Opportunity cost

Great editorial: "Regulations and jobs" (OGJ, Nov. 28, 2011, p. 16). How intellectually dishonest of EPA to ignore the well-known economic concept of "opportunity cost" as they impose extreme restrictions on power-plant emissions! They and Obama pull that kind of deception on the general public, that isn’t well-informed about opportunity cost, all the time. I guess we should be accustomed to such dishonesty from this administration by now. An economist once gave me a simple way of looking at job creation. He stated that any activity that produces wages, without producing a commensurate quantity of products for those wage-earners to buy, is inflationary. Thus wars are a...

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