Economists explain that wealth has ’declining marginal - TopicsExpress



          

Economists explain that wealth has ’declining marginal utility’, which is a fancy way of saying that it hurts to be hungry, cold, sick, tired and scared, but once you’ve bought your way out of these burdens, the rest of your money is an increasingly useless pile of paper.…. The production of wealth does not necessarily make individuals happy, but it does serve the needs of an economy, which serves the needs of a stable society, which serves as a network for the propagation of delusional beliefs about happiness and wealth. Economies thrive when individuals strive, but because individuals will only strive for their own happiness, it is essential that they mistakenly believe that producing and consuming are routes to personal well-being. Although words such as delusional may seem to suggest some sort of shadowy conspiracy orchestrated by a small group of men in dark suits, the belief-transmission game teaches us that the propagation of false beliefs does not require that anyone be trying to perpetrate a magnificent fraud on an populace…. This particular false belief is a super-replicator because holding it causes us to engage in the very activities that perpetuate it. - Daniel Gilbert (psykologiprofessor på Harvard University), Stumbling on happiness
Posted on: Tue, 11 Mar 2014 12:05:23 +0000

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