Are You Too Busy Eating Bananas to Fish? – Opportunity Cost and Happiness

In economics, there is a principle called “Opportunity Cost.” Basically, Opportunity Cost refers to what you lose from one pursuit while working or focusing on something else. This is closely tied to our previous talk on knowing what the tradeoffs are for each decision you make.

What are you losing by choosing the bicycle over the motorcycle? If your goal is exercise, the bicycle may be the optimal choice, but if you’re wanting to get stuff done quickly and get to where you are going efficiently, grab the motorcycle. Either way, there are opportunity costs to consider.

In business, a manager or owner must make a cost/benefit analysis of the projects they are intending to tackle. They must not only consider what they will gain from those projects but they must also think about what projects (and related benefits) they will have to pass on because their resources are tied up in the initial project.

In his “Meditations,” Roman Emporer Marcus Aurelius* takes the concept of “Opportunity Cost” in a more personal direction.

“Do not waste the remainder of your life in thoughts about others… For you lose the opportunity to do something else when you have such thoughts as these.

What is such a person doing? And why? What is he saying? What is he thinking of? What is he contriving?

We ought then to check the series of our thoughts — everything that is without a purpose and useless — but most of all, the over-curious feeling and the malignant.”

What Opportunities Are You Losing While You Are Using Your Resources Chasing Your Current Obsession?

Is it better for you to go fishing or to farm bananas?

Check out this YouTube video.

The YouTube video asks us a simple question. Is it worth giving up catching three fish just to pick one banana?

What are you trading for one banana?

In order to maximize our happiness, we also have to know what our “Opportunity Cost” is on any given project or activity.

Are you trading more time with your kids for one banana?

Are you trading a great business opportunity for a lesser one just because it’s more comfortable for you?

Are you losing the opportunity to put time into personal growth and trading your mental, emotional, and spiritual development for a banana?

Doesn’t sound like such a good trade when you put it that way, does it?

When we bring the concept of Opportunity Cost into the realm of our personal life we realize that while we are busy eating bananas (worrying, wondering what others are up to, watching mindless television, scrolling through Facebook, fighting with strangers on Twitter, and making stupid TikTok videos) we are losing opportunities to learn, grow, and become more profitable for ourselves and others.

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Until next time, have a happy day. 🙂

* I cannot recommend every author or everything written in every book I mention in my blog. Even a broken clock is right twice a day, and where a person or book is right or makes a good point, I will give credit where credit is due.

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