Thursday, July 16, 2009

Cost Benefit Analysis (1)

Cost/benefit decisions permeate the whole of life. I go to a prayer meeting rather than stay in bed, because the benefits outweigh the cost. If the prayer meeting loses the plot, I will stop going.

Jesus said we should count the cost before we decide to follow him.

A doctor working in an emergency department will do triage, to ensure that he puts energy into those who will benefit from his care. A caring hospital will manage costs extra carefully, so it can help more people.

A good teacher will put efforts into activities that will benefit learning. He will have to decide how the costs/benefits of Shakespeare compare with those for trigonometry.

Parents have to make choices between working to provide for their family and spending time with their children.

Benefits and costs are inescapable because everything we do has benefits and costs.

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