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Opportunity Cost
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Opportunity Cost
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"# Opportunity Cost Vienna, 1894. Friedrich von Wieser stares at a problem that's haunted economics for a century. Everyone knows that choosing costs something. But how do you name the thing you *didn't* choose? Here's what makes this moment strange: Wieser wasn't some ivory tower theorist. He was watching his own country industrialize. Watching farmers decide whether to plant wheat or raise cattle. Watching his students agonize over which career to pursue. And he realized... economics had ..."