Rejection Cost. From the perspective that my profit is someone else’s loss, and someone else’s profit is my loss, the fact that I have to reject an opportunity to make money for my circumstances is a loss for me and an act of giving someone else a profit. In other words, my added value is not determined solely by productivity but also by the marginal utility generated by the law of supply and demand. Therefore, my labor price should reflect the value that I have given up—the profit I could have gained. If the rejection cost is not included in my profit, I will be at a loss to that extent. Failing to account for rejection costs in production expenses is not wise, but foolish, because it risks my survival. There is no absolute value in this world. All economic values are relative. - Joseph’s “just my thoughts”
We struggle a lot throughout our lives, caught between what we want to do and what we are good at. The moment these two coincide is the climax of our lives. Salmon die when they return to where they were born, after all. Our life is a fun journey to synchronize this conflict. Conflicts and worries are completely normal. Let’s cheer for myself as I wander in between!
- Joseph’s “just my thoughts”
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