Expropriation and Opportunity Costs

La Tercera

Lean Right

Factuality

Ownership

DIRECTOR:The cost of opportunity is a logical concept, in any activity with limited variables. It can be time, land, money, etc. Simplifying, it refers to the value of the best option that will not be made when making a decision. In the context of public spending, this means that whenever the government decides to allocate resources to a project or program, it is giving up the opportunity to use those same resources for something else. And for t…