Earlier quoted context omitted.
There is a clear definition for "Opportunity Cost". It's an accepted principal with a long history. From my other comment, I was under the impression that you were not aware of it. Maybe you still aren't. My point is, you are creating the fallacy in your argument by not acknowledging the entire principal. Your use of money as the only driver in the personal decision provides a false conclusion to the "statement you o…
If I may pitch in: since you're trying so hard to throw around opportunity cost, there are, believe it or not, a couple other important points to consider here. The first is that all valuable things can be measured in terms of other valuable things--including dollars. Opportunity cost tradeoffs of all types can be mapped onto a tradeoff for some quantity of dollars. All things can therefore be measured in dollars, ev…
The Money/Time fallacy
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Re: The Money/Time fallacy
#42Earlier quoted context omitted.
If I may pitch in: since you're trying so hard to throw around opportunity cost, there are, believe it or not, a couple other important points to consider here. The first is that all valuable things can be measured in terms of other valuable things--including dollars. Opportunity cost tradeoffs of all types can be mapped onto a tradeoff for some quantity of dollars. All things can therefore be measured in dollars, ev…
Really excellent writeup. I think many people are squeamish with the idea of "personal opportunity cost" also because in their experience "personal numeric value"==easy unhealthy way to measure (seemingly) one's worth and to compare two individuals value ("I earn $10/H more so I'm better than him/He earns more so he's better than me"), which can be unhealthy. But it should be approached with as little ego (in the sel…