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CONTENT ARTICLE IN ECONOMICS

Opportunity cost: A reply

 

Notes

1. Mankiw Citation2012, 4–5.

2. Hubbard and O’Brien Citation2012, 8.

3. Bill Nordhaus made this same point in e-mail correspondence.

4. If my reading of William Polley (Citation2015) is correct, he too agrees with me.

5. O’Donnell wants to distinguish between definition and measurement, but I see no gain in that distinction.

6. “Nothing is important about a definition. It is only useful insofar as it helps us to think about a problem and to make the right decisions” (Ferraro and Taylor Citation2005, 7).

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