Last Thursday’s wanton attack on a Syrian air field by the US and its bellicose actions toward North Korea have brought to the forefront the real cost of candidate Trump’s landslide victory last November.
Unlike most laymen, accountants, and financial analysts, economists look at cost differently. For economists, cost or more specifically, “opportunity cost,” means “a benefit that a person could have received, but gave up, to take another course of action. Stated differently, opportunity cost represents an alternative given up when a decision is made.”
Such thinking can be roughly applied to the political realm. In the case of last fall’s US Presidential election, the cost of Donald Trump’s unexpected victory was not the money spent on the campaign, but the diffusion (hopefully, only temporary) of the growing anti-Establishment groundswell that was percolating not only in America, but across the globe.
The Trump phenomenon, Brexit, Texas secession talk, anti-immigration…
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Categories: World at WAR