DWD20200503

David's Time With Peter F. Drucker 2020.5.3 But equally a product, service, market or process should be abandoned if the only argument for keeping it is: “It's fully wirtten off.” To treat assets as being fully written off has its place in tax accounting, but nowhere else. For management purposes there are no “cost-less assets.” There are only “sunk costs,” the economist's term for buildings and other fixed investments. The question is never: “What have they cost?” The question is: “What will they produce?” And assets that no longer produce except in accounting terms, that is, assets which produce only because they appear not to “cost” anything, are not assets. There are only sunk costs. ——《Management Challenges for the 21st Century · Chapter3》(Peter F.Drucker,1999)