I have Jimmy Graham projected to score 248 points in PPR leagues—40 points more than any other tight end. That makes Graham scarce, and thus valuable. I discussed the concepts of scarcity and ...

In the last 40-50 years, awareness of scarcity and opportunity cost seems to have faded from national policymaking. Currently, it borders on irrelevant.

Opportunity cost refers to the potential profit provided by a missed opportunity—the result of choosing one alternative for your money over another.