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Programmed to Fail - 9. Cost
Manage episode 355808217 series 2909157
Content provided by Acquisition Talk and Eric Lofgren. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Acquisition Talk and Eric Lofgren or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In this episode of Programmed to Fail, we explore how accounting costs do not reveal the value being generated in the production process and cannot be used, on their own, as a guide for specific choices. Cost is not an objective reality, particularly to those who know the vagaries of cost accounting. Instead, our view of cost depends on subjective use value and is related to the term opportunity cost, or the next-best choice foregone. This chapter reveals that for defense acquisition to truly understand weapons value and leverage the power of commercial markets, it needs to shift away from its obsession with financial metrics. This podcast was produced by Eric Lofgren. You can follow me on Twitter @AcqTalk and find more information at https://AcquisitionTalk.com
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166 episodes
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Manage episode 355808217 series 2909157
Content provided by Acquisition Talk and Eric Lofgren. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Acquisition Talk and Eric Lofgren or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In this episode of Programmed to Fail, we explore how accounting costs do not reveal the value being generated in the production process and cannot be used, on their own, as a guide for specific choices. Cost is not an objective reality, particularly to those who know the vagaries of cost accounting. Instead, our view of cost depends on subjective use value and is related to the term opportunity cost, or the next-best choice foregone. This chapter reveals that for defense acquisition to truly understand weapons value and leverage the power of commercial markets, it needs to shift away from its obsession with financial metrics. This podcast was produced by Eric Lofgren. You can follow me on Twitter @AcqTalk and find more information at https://AcquisitionTalk.com
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Similar to Acquisition Talk
An independent podcast examining what the U.S. Congress is doing with our money and in our names. www.congressionaldish.com Follow @JenBriney on Twitter
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continue reading
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The Young Turks is Home of The Progressives. Cenk Uygur, Ana Kasparian and a host of progressive voices deliver the news and provocative commentary. Whether you are seeking a breakdown of current events, politics and the mainstream media or just a quick laugh, the TYT daily podcast will always keep you informed and entertained.
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