PQC Economics For the past three years, almost every serious discussion about Post-Quantum Cryptography has started with the same question: How much will it cost? Governments have published rough estimates. Boards want numbers. Vendors are selling calculators. Consultants are packaging migration roadmaps. But that question is still too narrow. It treats PQC like a software upgrade. It is not. The economics of PQC are not driven by cryptographic algorithms. They are driven by