Source: Adam Smith Institute
by Tim Worstall
“In richer places there are more things that can be done with a life. That means more choices – and choice means one road taken another cannot be. The cost of having a child is all the myriad things that cannot now be done because of the presence of the child. … Precisely because we are richer, wholly because there are more things that can be done with a life, therefore the cost of doing any one of them has risen. Risen by exactly the number of those things that cannot now be done as a result of the decision to do one of them. Now we’ve got the usual loons telling us how to plan and run the world without their even grasping the most simple aspects of the logical problem we actually face.” (06/11/25)
https://www.adamsmith.org/blog/planning-the-world-with-the-wrong-information