I never understood the sentiment of valuing babies over all else. To me it always seemed obvious that fresh college graduates are most valuable to society, since we just finished investing a ton of money into them. Babies on the other hand are easily replaced. I get this is mainly an emotional argument, but it's still startling to me how opposite it is to the purely economic argument I made above. In fact usually peo…
"are most valuable to society, since we just finished investing a ton of money into them"
"In traditional microeconomic theory, only prospective (future) costs are relevant to an investment decision. Traditional economics proposes that economic actors should not let sunk costs influence their decisions. Doing so would not be rationally assessing a decision exclusively on its own merits." - https://en.wikipedia.org/wiki/Sunk_costs