Trumpical Sunk Cost Blues | Econ MAGA 101
John Lopker
Trumpical Sunk Cost Blues | Econ MAGA 101
by
John Lopker
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A sunk cost is a cost that has already been incurred and cannot be recovered. Sunk costs are sometimes contrasted with prospective costs, which are future costs that may be incurred or changed if an action is taken.
The sunk cost fallacy is a logical fallacy that entails sticking with a losing or failed venture because you’ve already invested a significant amount of time, money, or other resources that you can’t get back. It hinges on the idea that because you’ve already incurred costs, you need to stick with the endeavor in order to “get your money’s worth.”
If you’re familiar with the phrase “cut your losses,” that’s a call to avoid getting trapped by the sunk cost fallacy.
I sunk my faith in a crazy man
With a neck tie three feet long
I sold my soul to be his fan
Gonna hurt to admit I'm wrong
Oh Lord! I got a lot to lose
I got the Trumpical Sunk Cost Blues
In for a penny, in for a pound
Throwing good money after bad
Don't want to hear that flushing sound
But I can't get back what I had
Oh Lord! Help me choose
I got the Trumpical Sunk Cost Blues
I got scammed by Lucifer's boy
Now I can't stand the smell
He made my faith his little toy
Made America a living hell
Oh Lord! It was all a ruse
I got the Trumpical Sunk Cost Blues
I'm jumping off that crazy train
Gonna hurt to admit I'm wrong
I don't want to feel the pain
My sunk costs are all gone
Oh Lord! I got good news
I got the Trumpical Sunk Cost Blues