Tag Archives: opportunity cost

John Quiggin looks at at student debt cancellation in terms of opportunity cost and MMT.Crooked TimberOpportunity cost, MMT and public spendingJohn Quiggin | Professor and an Australian Research Council Laureate Fellow at the University of Queensland, and a member of the Board of the Climate Change Authority of the Australian Government

The concept of opportunity cost “The opportunity cost of anything of value is what you must give up so that you can have it.” is the central theme of my book Economics in Two Lessons,due out in the US on 19 April and hopefully in Australia soon after that. My central claim is that two lessons based on opportunity cost and their relationship to market prices provide a framework within which almost any problem in economic policy can usefully be considered.…So, I was impressed to see Bill...

Earlier this summer, four economists released a working paper suggesting that part of the decline in male labor-force participation can be attributed to the increased quality of video games. You can see an article about it here, and you can also see a non-technical summary of the paper as part of the NBER digest.Conceptually at least, this makes sense- better leisure activities increase the opportunity cost of working, which decreases the net benefit of working, and generally we do less of...