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In economics, one of the most important concepts is 'opportunity cost' - the idea that once you spend your money on something, you can't spend it again on something else.

Malcolm Turnbull

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Malcolm Turnbull
Age: 70
Born: 1954
Born: October 24
Barrister
Entrepreneur
Investment Banker
Journalist
Member Of The Australian Parliament
Politician
Sydney
NSW
Malcolm Bligh Turnbull
Ideas
Economics
Important
Concepts
Something
Cost
Spend
Opportunity
Idea
Money
Else

More quotes by Malcolm Turnbull

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you cannot maintain popular support for immigration policy, multiculturalism, unless you can control your borders.
Malcolm Turnbull
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Governments enjoying surpluses have a very strong temptation to splash money around, and while tax cuts are always appealing, cutting taxes at the top of a boom runs the real risk of creating a structural deficit when the boom subsides.
Malcolm Turnbull
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In terms of our region, what we need to ensure is that the rise of China [is] conducted in a manner that does not disturb the security and the relative harmony of the region upon which China's prosperity depends. Now - now, that requires careful diplomacy, it requires balancing.
Malcolm Turnbull
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Mitt Romney speaking to a $50,000-a-plate Republican fundraiser says he doesn't have to worry about the 47 per cent of Americans who don't pay tax. He was not counting on the smart phone recording his speech and then posting it on YouTube.
Malcolm Turnbull
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It is unmanly. It is not some expression of macho virtue. It is the absolute antithesis of this. Real men don't bully women and children. Respect for women ... is so important.
Malcolm Turnbull
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All Australians understand that high-quality, reliable and affordable broadband is a critical part of the infrastructure our nation needs to prosper in coming years.
Malcolm Turnbull
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On balance, after weighing the arguments, I believe that the time has come for Australia to create a new sovereign wealth fund.
Malcolm Turnbull
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We will certainly have to rethink the way in which we design and protect places where large numbers of Australians and indeed this will happen around the world.
Malcolm Turnbull
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Are not the gays who seek the right to marry, to formalise their commitment to each other, holding up a mirror to heterosexuals who are marrying less frequently and divorcing more often?
Malcolm Turnbull
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Government will not nominate the former Labor prime minister [Kevin Rudd] to be the UN's next secretary-general.
Malcolm Turnbull
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People invest in companies in order to get a share of the profit that company will make. If the Government increases its share of the profits, potential profits, at the expense of the owners of the company, the shareholders, then that makes investment in that company less attractive.
Malcolm Turnbull
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China and India will take the global leadership on climate change: they are suffering for it.
Malcolm Turnbull
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The biggest review of taxation ever undertaken in this country, is now dead in the water.
Malcolm Turnbull
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To the former child migrants, who came to Australia from a home far away, led to believe this land would be a new beginning, when only to find it was not a beginning, but an end, an end of innocence - we apologise and we are sorry. To the mothers who lost the maternal right to love and care for their child - we apologise, and we are sorry.
Malcolm Turnbull
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I believe politicians should aim to be accurate and truthful in what they say at all times. You can be truthful and inaccurate but what you shouldn't be doing at any time is saying things that are untrue or making commitments that you have no intention of honouring.
Malcolm Turnbull
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The Liberal Party is and always has been an amalgam between the conservative and the liberal with a small L traditions. And so from time to time people will see it emphasising one more than the other. I think it is genuinely an amalgam between the two.
Malcolm Turnbull
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Newspapers are busily experimenting with different models. Traditionally, and I suspect in hindsight very mistakenly, online news was free. And once given free access readers felt it was their entitlement.
Malcolm Turnbull
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Americans understand that they have no stronger ally, no better friend, than Australia.
Malcolm Turnbull
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I've always been prepared to put my money where my mouth is.
Malcolm Turnbull
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Look at countries like China, they are determined to dominate all clean technology areas, putting lots of money into wind, solar, electric vehicles and battery storage. America's political impotence, caused by their terrible partisanship, will see them left behind.
Malcolm Turnbull