Wednesday, January 21, 2009

Ideas You Need to Know #27: Marginal Utility

From the Ideas-You-Need-To-Know file comes this beauty.  The Philosophical Mortician explains brilliantly the important economic notion of Marginal Utility, which explains among other things why diamonds are worth more than water (even though we’ll never die for lack of diamonds) and why CEOs of large companies, even bad ones, calculate their salaries by the number of zeroes at the end -- while teachers, even good ones, spend their spare time checking behind the cushions for spare coins.

Labels: ,

0 Comments:

Post a Comment

Respond with a polite and intelligent comment. (Both will be applauded.)

Say what you mean, and mean what you say. (Do others the courtesy of being honest.)

Please put a name to your comments. (If you're prepared to give voice, then back it up with a name.)

And don't troll. Please. (Contemplate doing something more productive with your time, and ours.)

Links to this post:

Create a Link

<< Home