The Upside of Quitting: Freakonomics

Only for my most advanced and most inquisitive students:

This is the podcast that I mentioned to you in class last Thursday.

“To help us understand quitting, we look at a couple of key economic concepts in this episode: sunk cost and opportunity cost. Sunk cost is about the past – it’s the time or money or sweat equity you’ve put into a job or relationship or a project, and which makes quitting hard. Opportunity cost is about the future. It means that for every hour or dollar you spend on one thing, you’re giving up the opportunity to spend that hour or dollar on something else – something that might make your life better. If only you weren’t so worried about the sunk cost. If only you could …. quit.”

Please listen. Click the link below.

The Upside of Quitting.

3 thoughts on “The Upside of Quitting: Freakonomics

  1. Life is a long chain of choices. Every person of us has been making choices since we got the thinking ability. Children make choices about which toy to get, students make choices about which school to enter, men make choices about which girl to date and marry (they can be different choices :))… Sometimes it’s a good choice, sometimes it’s not.
    Quitting is an option. It may help in some ways. But for me, the important thing is that you must take responsibility with your choices. You must stick with your decision and make sure you did everything you can before thinking of giving it up. I quit my university, when I could have got my Bachelor degree if I continued for more 2 years, to study in Japan from Japanese language school level. I did have many difficulties, did want to quit everything and go back. But I chose to continue.If you quit even before you start, if you abuse the quitting option, personally I don’t think you can succeed. Thinking about the quitting option too much also makes us lose our determination, makes us easily quit whatever we are doing at the very first challenges, and maybe quit… life, like somebody did. I think we must keep the thinking that “keeping going on” is better than “quitting”, it maybe hard, but it’s positive.

  2. Quitting is actually quite important during our living journey, at least from my perspective.
    We have so many excuses to grab those silly dreams that could never come true, people who don’t desire any drop of tear, jobs that driving you mad tightly, and we know that all we need to do is let go and move on.
    I used to watch a tv show called ‘so you think you can dance’, and there was a man who probably in his mid-40s just keep came to the audition season after season. It was absolute the most hilarious scene during the show and people loved him, yet everyone would agree that he could never become a great dancer, not even a ‘okay’ one. I really feel sorry for him and can’t help but wondering if there might be something else that he is better with and still enjoys doing it. If he can realize this, he probably could avoid being laughed by other people and feeling bad about himself.
    Quit is a tricky option. Is it really good for you? How long should you wait till you finally make the call? Probably no one can tell. Well, I guess this is another reason why life is so beautiful. All you can do is don’t make decisions too hastily, and always follow your heart.

    • Leen

      I did not know that meaning of word “quitting” at first time, but now i can understand that word. It is similar as “abandon” something that someone aim for. I know that sometime “abandon” is effective way to feel free. And that article also agreed that quitting is strategic and can be best possible plan. Pherhaps most of people agreed that quitting is not always lead people to bad way. However, if you depend on “quitting life” as usual, and not even try hardly before abandon, it can not say that best possible plan.
      I think “quitting” is last option to select your future life. We all needs to challenge everything what we can to achive purpose.

Comments are closed.