Quotes & Sayings About Opportunity Costs

Declining overseas admissions costs us not only much needed revenues for colleges and universities, but much more importantly, we lose the best opportunity we have to introduce foreign students to all that America has to offer the world. — Richard Lugar

After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity costs don't show up on financial statements, but have cost us many billions. — Charlie Munger

Sure, you can choose the safety and predictability of the cage, forfeiting the adventure God has destined for you. But you won't be the only one missing out or losing out. When you lack the courage to chase the Wild Goose, the opportunity costs are staggering. Who might not hear about the love of God if you don't seize the opportunity to tell them? Who might be stuck in poverty, stuck in ignorance, stuck in pain if you're not there to help free them? Where might the advance of God's kingdom in the world stall out because you weren't there on the front lines? — Mark Batterson

ECONOMISTS POINT OUT THAT THE QUALITY OF ANY GIVEN OPTION can not be assessed in isolation from its alternatives. One of the "costs" of any option involves passing up the opportunities that a different option would have afforded. This is referred to as an opportunity cost. — Barry Schwartz

The irony is that we've seen this model work really well in Massachusetts because Gov. Romney did a good thing, working with Democrats in the state to set up what is essentially the identical model and, as a consequence, people are covered there. It hasn't destroyed jobs. And as a consequence, we now have a system in which we have the opportunity to start bringing down costs as opposed to just leaving millions of people out in the cold." "Gov. Romney said this has to be done on a bipartisan basis — Barack Obama

Of all the costs imposed on our society by the top 1 percent, perhaps the greatest is this: the erosion of our sense of identity in which fair play, equality of opportunity, and a sense of community are so important. — Joseph E. Stiglitz

Obviously, consideration of costs is key, including opportunity costs. Of course capital isn't free. It's easy to figure out your cost of borrowing, but theorists went bonkers on the cost of equity capital. They say that if you're generating a 100% return on capital, then you shouldn't invest in something that generates an 80% return on capital. It's crazy. — Charlie Munger

Where the costs of entry are minimal, there is a wide avenue of opportunity for those with little or nothing, which is why football is just about the most democratic sport of all: African and Brazilian footballers compete on a level playing field with their rich white European counterparts. — Martin Jacques

Be sure that you are well compensated for illiquidity - especially illiquidity without control - because it can create particularly high opportunity costs. — Seth Klarman

Every moment of life brings an opportunity for being conscious of human feeling, in prosperity, in adversity, in all conditions. It costs very little; only a little thought is necessary. There is no greater religion than love. God is love; and the best form of love is to be conscientious regarding the feelings of those with whom we come in contact in everyday life. — Hazrat Inayat Khan

Intelligent people make decisions based on opportunity costs. — Charlie Munger

Our approach to existential risks cannot be one of trial-and-error. There is no opportunity to learn from errors. The reactive approach - see what happens, limit damages, and learn from experience - is unworkable. Rather, we must take a proactive approach. This requires foresight to anticipate new types of threats and a willingness to take decisive preventive action and to bear the costs (moral and economic) of such actions. — Nick Bostrom

precautions are expensive, either in terms of actual costs for safety or opportunity costs for risks that you could have taken but didn't. — M.E. Thomas

It's a great opportunity to lower costs without sacrificing quality. If a retailer is not leveraging this capability, they are certainly missing something. — Marc Chandler

The developers, if they decide to move a tortoise, have to pay the long-term costs for enhancing the areas that take care of the tortoise, and it gives us the opportunity to manage an area that is going to be protected. — Gale Norton

Poor kids, through no fault of their own, are less prepared by their families, their schools, and their communities to develop their God-given talents as fully as rich kids. For economic productivity and growth, our country needs as much talent as we can find, and we certainly can't afford to waste it. The opportunity gap imposes on all of us both real costs and what economists term opportunity costs. — Robert D. Putnam

If one is lucky, opportunity cost is all the price one pays. More often than not, there are other costs to gaining your freedom. Maybe it has to do with letting go of comfort and convenience, incurring a loss, or losing friends who are no longer aligned with your goals. Maybe it is a dramatic dislocation in the way you lead your life that renders you disoriented. Some of these experiences maybe painful. You may also find the pursuit of happiness is at times a lonely road. — K.J. Kilton

Even when you are right, there are costs and taxes associated with being tactical. When you are wrong, there are opportunity costs. — Barry Ritholtz

Education and training for all children to be equal in opportunity in all schools, colleges, universities, and other institutions of training in the professions and vocations in life; to be regulated on the capacity of children to learn, and not on the ability of parents to pay the costs. Training for life's work to be as much universal and thorough for all walks of life as has been the training in the arts of killing. — Huey Long

But the macro-economy is not the Whole. It too is a Part, a part of the larger natural economy, the ecosphere, and its growth does inflict opportunity costs on the finite Whole that must be counted. — Herman E. Daly

However, for equity to create commitment rather than conflict, you must allocate it very carefully. Giving everyone equal shares is usually a mistake: every individual has different talents and responsibilities as well as different opportunity costs, so equal amounts will seem arbitrary and unfair from the start. On the other hand, granting different amounts up front is just as sure to seem unfair. Resentment at this stage can kill a company, but there's no ownership formula to perfectly avoid it. — Peter Thiel

Technology has given us this wonderful opportunity to have low energy costs. We have to seize that, rather than keep debating and discussing and fighting over it. — Michael Porter

If coal wants a place in a carbon-constrained future, they have to look at technology like this. And we think that our rule can help stimulate technology, growth, and innovation, bring those costs down, and allow coal a more stable opportunity to continue to be invested in. — Gina McCarthy

In a world of pushing, shoving, striving to get ahead at all costs people; to those who knew him well, John Mann was a breath of fresh air. — Matt Micros

At its most basic, the logic of 'meritocracy' is ironclad: putting the most qualified, best equipped people into the positions of greates responsibility and import ... But my central contention is that our near-religious fidelity to the meritocratic model comes with huge costs. We overestimate the advantages of meritocracy and underappreciate its costs, because we don't think hard enough about the consequences of the inequality it produces. As Americans, we take it as a given that unequal levels of achievement are natural, even desirable. Sociologist Jermole Karabel, whose work looks at elite formation, once said he 'didnt think any advanced democracy is as obsessed with equality of opportunity or as relatively unconcerned with equality of condition' as the United States. This is our central problem. And my proposed solution for correcting the excesses of our extreme version of meritocracy is quite simple: make America more equal — Christopher L. Hayes

The most interesting biofuel efforts avoid using land that's expensive and has high opportunity costs. They do this by getting onto other types of land, or taking advantage of byproducts that aren't used in the food chain today, or by intercropping. — Bill Gates

We have an opportunity to improve productivity and cut costs while growing our way to a better and a more comfortable operating environment. I don't think anyone feels comfortable about bumping around where we are today. — Scott McNealy

The economic metaphor came to be applied to every aspect of modern life, especially the areas where it simply didn't belong. In fields such as education, equality of opportunity, health, employee's rights, the social contract and culture, the first conversation to happen should be about values and principles; then you have the conversation about costs, and what you as a society can afford. — John Lanchester

We're guessing at our future opportunity cost. Warrenis guessing that he'll have the opportunity to put capital out at high rates of return, so he's not willing to put it out at less than 10% now. But if we knew interest rates would stay at 1%, we'd change. Our hurdles reflect our estimate of future opportunity costs. — Charlie Munger