The truth about sunk costs

by Seth Godin
It's one of the most profound and difficult lessons every MBA is taught: Ignore sunk costs. Money and effort you spent yesterday should have nothing to do with decisions you make tomorrow, because each decision is a new one. Simple example: You've paid a $10,000 deposit on a machine that makes widgets at a cost of a dollar each. And you've waited a year to get off the waiting list.Read the full article