Can economics help you decide whether or not to quit social media? Yes!
Welcome to “The Economics of…”—a new series from What Works. In this series, I’ll be exploring how economic concepts and frameworks can help us run our businesses or manage our careers. Each episode will have some fundamental economics education and a case study to make each concept tangible.
Today, we’re tackling a pretty fundamental economic concept: opportunity cost. Opportunity cost helps us understand what we have to give up in order to get what we want. Sounds simple enough, right? Well, it is. But opportunity cost asks us to dig deep to discover the hidden costs of any decision—and that can be anything but straightforward.
In this week’s case study, I talk with Tell Me A Story founder Hillary Rea about the opportunity cost of quitting social media (or rather, the opportunity cost of not doing all the things she has the time to do now!).
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