Tyler Coughlan, Chapter 1, Question #6

The issue of cost benefit was interesting to me how every behavior we have reacts to cost in at least one way. Wheelan's best example was time and how when we decide to put our time in something we are losing putting time in something else. Time is our scarcest resource. We are suppose to balance play and work. Wheelan uses the example of the investment banker who works 90 hour weeks and makes a wealthy living. That investment banker barely has time to spend that money based on the amount of hours he is working. So he is not allocating his time well. He also talks about himself and how he could drive 90 miles to get 50$ shoes but just goes around the corner to get $250 shoes. That is a smart decision because as an author he gets paid on what he produces with his time. So he could make more money by writing then driving the 90 miles to get the cheaper shoes. Also the example of taking the slower $1.50 subway instead of a $7 dollar taxi but if you arrive late to a client they might pull a $50,000 deal on you. So saving the $5.50 is not worth it. So we must use our time wisely.