Beware Of The Concord Fallacy

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In the article, “Beware of the Concorde Fallacy,” the British and French continued the support of Supersonic Transport Aircraft’s even though they had tremendous cost over runs and caused economic reason. Every company needs to spend money to make money and those start up costs for companies are considered sunk costs because you cannot get that money back. The expenses that are paid are permanently gone which make it a sunk cost. In my definition a sunk cost is the time and money that is gone that is gone from past experiences. In my life I first thought about all the past sports I have played. I competed in football and wrestling. In those sports I devoted a lot of time and money to making myself better in each of those sports. All the time
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