Classical liberal authors such as Bastiat or Mises teach us that
the costs that matter (or should matter) to people who take decisions
are the opportunity costs of that decision -- i.e.
the relative costs/benefits of the many options open to choice --,
as opposed to accounting costs, that describe the transfers
that actually happen.
What is the right technical name for what I call accounting cost?
What papers/books/works should be read/cited for
the invention and clarification of this distinction
between opportunity costs and accounting costs?
If this isn't the right place to ask, where is the right place?
Thanks for your attention.
[ François-René ÐVB Rideau | ReflectionCybernethics | http://fare.tunes.org ]
[ TUNES project for a Free Reflective Computing System | http://tunes.org ]
Democracy is but government of the busy, by the bully, for the bossy.
-- Arthur Seldon, The Dilemma of Democracy
