“Weighing benefits against costs is the way most people make decisions”
— Thomas Sowell
Simplified Meaning:
When people make choices, they often think about the good and bad things that might happen because of their decision. For example, if a person is deciding whether to buy a new phone, they consider how much it will cost, how useful it will be, and if it will make their life easier. If the benefits, like having a better camera and faster internet, seem greater than the cost of the phone, they are likely to buy it. This way of thinking helps people make smart choices in everyday life. Similarly, if someone is thinking about taking a new job, they will look at the salary, work hours, and how happy the job might make them. If the new job offers more money and better work conditions compared to their current job, they might decide the benefits are worth it, even if the job is farther from home. By weighing the positives and negatives, people can make decisions that lead to the most happiness and success. In short, to make good decisions, it's important to consider both the pros and the cons. This helps people find the best options and avoid problems.