From Ken Follet’s book “The pillars of the Earth”, I would like to introduce this famous but at the same time regularly bad utilized concept: “The Opportunity Cost”.

Brother Philip (the monk in charge of the Kingsbridge’s Cell), thinks to itself : The brother Paul has dedicated all his life to serve God and the monastery, and now at the end of his path, he had to suffer the pain and the cold of watching the bridge’s toll, only for a few pennies per day. That is not only mean but a completely waste, an old and patient man could develop a more productive task such as taking care of the granary, thus this would represent a greater profit to the monastery.

Try to identify the Opportunity Cost of designating brother Paul to take care of the bridge pass.

By Laura M. Gonzalez