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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
Opportunity
Idea
Money
Else
Economics
Ideas
Concepts
Important
Cost
Something
Spend

More quotes by 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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You will never find a better friend to the United States than Australia.
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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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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Many Liberals are rightly dismayed that on this vital issue of climate change we are not simply without a policy, without any prospect of having a credible policy but we are now without integrity. We have given our opponents the irrefutable, undeniable evidence that we cannot be trusted.
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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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
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I believe that politicians should speak the truth all the time. Invariably there will be occasions when you make statements that are factually incorrect due to an error.
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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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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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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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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Americans understand that they have no stronger ally, no better friend, than Australia.
Malcolm Turnbull
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There is a tendency to try to dumb everything down and turn everything into a one-paragraph press release or even less, just a slogan.
Malcolm Turnbull
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While our energy efficiency is improving, there is a very high correlation, almost near perfect correlation, between GDP growth, and energy usage.
Malcolm Turnbull
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Broadcasters or politicians or writers who think that they are respecting Struggle Street, the battlers, by dumbing things down into one-line sound bites are not respecting them, they are treating them with contempt. It's our job above all in politics to tackle the big issues and to explain them.
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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This is a very tough business, politics. It's easy to get resentful or full of bitterness ... (but) I think hatred hurts the hater more than the hated. So I'm looking back on my time positively.
Malcolm Turnbull
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Honest people, knowledgeable people, really well-informed people can have very different views about what the right measures are on national security.
Malcolm Turnbull