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I don't understand why economists would hate it. The opportunity cost doesn't have to be dollars - it could be in universal "utility measure" units. If I value
by wittyreference 6y ago
I don't understand why economists would hate it. The opportunity cost doesn't have to be dollars - it could be in universal "utility measure" units. If I value the utility measure of what I'm giving up to get food > than I value the utility measure of the cost of delivery, I don't want to give up that utility to go get food.
- scarface74 6y agoI am not saying that money is the end all be all. I am saying that the intellectually honest reason is that “I have the money to spend on doing things I don’t want to do myself”. Not, “Because I make $50/hour, for 8 hours a day, my time is worth $50 and every hour I get back in my life is worth $50/hour”.