One of the things we have discussed in class is the concept of opportunity cost. For example, the opportunity cost of going to college is the income you would have earned if you had worked instead. During a war, opportunity costs can be especially important for decision-making. The opportunity cost in helping Ukraine, of course, is the value of the best alternative that wasn’t taken. Conversely, if it decides to increase civilian spending, it will have less money for military spending.

Source: Irish Independent October 14, 2023 12:32 UTC