Opportunity Cost

There is a concept that gets thrown around in economics classes called opportunity cost.  In that context, opportunity cost is simply the fact of life that if you invest in one thing, you are necessarily no longer able to use those resources to invest in another.  If you put ten thousand dollars into buying a car, that’s ten thousand dollars that you can’t use for the down payment on a house.  If you invest 30% of your salary each month in your retirement accounts, that’s 30% that you can’t use now to go on vacation.  A fairly simple concept, really, and it rarely is discussed outside of economics classrooms.

Fantastic Economics

As I was writing several of the scenes in the later episodes of Blood Magic's first season, I was struggling to describe what, exactly, Prime Wezzix and Borivat do all day. Specifically, I had a discussion in episode eight about Merolate's budget. As I was writing it, I was trying to make it realistic, but I found myself wondering what a budget for a nation-state at a level roughly comparable to Italy in the thirteenth or fourteenth century might reasonably include.

A Splendid Exchange Review

Or, as I wanted to title this post: A Splendid Review. Unfortunately, I wouldn't go so far as to call this a splendid book. You might be starting to think that I'm just biased against nonfiction, considering that I think the majority of the nonfiction books I've reviewed on the site have all been described as something along the lines of "mediocre," but I promise there are some that I would call excellent. Chernow's biographies of Washington and Hamilton, for instance, or another splendid biography on Lincoln, or several books on theoretical astrophysics...unfortunately, I read those before I started doing book reviews on the site, and it just so happens that the nonfiction books that I've read since I started have been somewhat disappointing.