> a project's economic viability doesn't depend on the relative merits of other projects.
I'm not sure this is true - certainly the opposite of this statement is the central thesis of most investment activity.
I'm not sure this is true - certainly the opposite of this statement is the central thesis of most investment activity.
Of course when choosing between several projects, such as starting a school or launching a scam, then yes you would look at relative profitability (_and_ absolute of course).
Few people will hopefully find themselves choosing between those two options.