Article September 2, 2019 Issue

Getting beyond greed

Lyle Young

A version of this article was published in The Christian Science Monitor’s Christian Science Perspective column, May 16, 2019.

One of my brothers tells of seeing how our father, a farmer with six children, treated a man from whom he was buying a farm implement. After the dealer proposed a price, our father double-checked with him whether that would really be a fair price—for the dealer.

In finance, “opportunity cost” refers to the loss of potential gain when a different alternative is chosen. So, for example, if you choose not to invest your money, the investment income that you forgo as a result of that choice constitutes your opportunity cost.

To me, my dad’s interaction illustrates how this concept can apply to more than just money. For instance, there’s an opportunity cost when we choose greed over two of the coolest qualities people can express: generosity and magnanimity.

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