In the video, the guy gives interesting insight on what his view of the next best option for the car industry is, which is stripping the cars of all of their safety features and just make reliable cars. This shows the theme of opportunity cost by stating the next best option is for making less safe cars. But this had me thinking, is making less safe cars really the next best option instead of buying new cars. Because cars always depreciate in value, old cars are always a good option than just buying a new car. Another next best option is just not buying a car, while some this wouldn't be an option if they live far away from work, but in New York City, the subways are the opportunity cost instead of buying a new car. For my brother who lives in Arizona where weather is not an issue, he can take an electric scooter to work sometimes, so for some, bikes are the next best option. I do think the guy makes great points on how to lower new car prices, but I would argue that isn't the best opportunity cost out there. The best opportunity cost for one person, is not always the same for another, which is why I think just stripping cars of all their safety features and making purely reliable cars is not sole the next best option, or the opportunity cost, and what I think this guy is arguing.
I agree and this is a really good thought Mason. There are many different opportunity costs for many different types of transportation.
Very good! Opportunity costs vary for everyone. While this policy change may not affect everyone, it certainly does mean that manufacturers will have the ability to produce cheaper cars - should they opt for it. As Brown alluded to in his video, the fear of investing in a manufacturing line for cheaper cars make not make sense if a future administration will plan to re-enforce the rules that Trump has repealed.