Comments on: Sunk Costs :: Let It Go… http://www.orange-blog.com/2008/07/23/sunk-posts/ Thu, 20 Nov 2008 23:59:35 +0000 http://wordpress.org/?v=2.5 By: Ben Kunz http://www.orange-blog.com/2008/07/23/sunk-posts/#comment-1010 Ben Kunz Fri, 25 Jul 2008 01:04:13 +0000 http://www.orange-blog.com/?p=533#comment-1010 Excellent thoughts, Garret. I hadn't considered society's oil addiction as pursuing "sunk costs," but it is a good example of chasing diminishing returns from past decisions rather than realizing it's time for a break. It reminds me of the first time I read that "inertia" has two definitions: standing still, or staying on a static course. There's too much of the latter in life. It takes guts to realize when course change is needed. Are we progressing? Or are we just following the lazy path of inertia? Excellent thoughts, Garret. I hadn’t considered society’s oil addiction as pursuing “sunk costs,” but it is a good example of chasing diminishing returns from past decisions rather than realizing it’s time for a break. It reminds me of the first time I read that “inertia” has two definitions: standing still, or staying on a static course. There’s too much of the latter in life.

It takes guts to realize when course change is needed. Are we progressing? Or are we just following the lazy path of inertia?

]]> By: Wendy http://www.orange-blog.com/2008/07/23/sunk-posts/#comment-1007 Wendy Thu, 24 Jul 2008 16:01:07 +0000 http://www.orange-blog.com/?p=533#comment-1007 My hub was a student of the man (U of Chicago biz school) who coined the term. It's a running joke around here: Sunk costs are sunk. You're right - it's unfortunate, but many are unable to see the futility in marching on, business as usual. I believe much of it is ego (institutional or individual) and an unrealistic belief or optimism. Or fear of admitting.... Thanks for the post. My hub was a student of the man (U of Chicago biz school) who coined the term. It’s a running joke around here: Sunk costs are sunk.

You’re right - it’s unfortunate, but many are unable to see the futility in marching on, business as usual. I believe much of it is ego (institutional or individual) and an unrealistic belief or optimism. Or fear of admitting….

Thanks for the post.

]]>