Politics and the Alternate Utility of Time
Next time you turn on the news, click to open an article, or read a long post/Twitter thread on politics, consider what else you could be doing during that time. Time, after all, is the one resource you can’t get more of. Unlike economies of trade, it is a zero-sum game. The concept of alternate utility in economics deals with how resources are best used. For instance, a piece of land could be used to grow 100 units of corn or 80 units of rice. Another plot could produce 30 units of corn or 50 units of rice. If corn…