the concept of marginal utility : flawed in itself

    As I see it, the concept of ‘ marginal utility ‘ is fundamentally flawed. It’s defined as ‘ the value to the consumer of an additional unit of some commodity. ‘ ( Marginal utility, Theories of Utility at Utility and value ) I think the above definition of the term ‘ marginal utility ‘ is correct wholly. … More the concept of marginal utility : flawed in itself

THESIS on MONEY’s incapacity & its SIGNIFICANCE

I discovered it all by myself, and I thought I had discovered something new. But Professor Robert J. Aumann, a Nobelist economist, holds it’s ‘ well-known ‘ and ‘ known for hundreds of years ‘ . He also claims that it occurs in ‘ “Exposition of a New Theory on the Measurement of Risk”. ‘ . Nevertheless, he ‘ does … More THESIS on MONEY’s incapacity & its SIGNIFICANCE

Nobelist economists shy away from making their views known. WHY ?

Professor Robert J Aumann ( wearing a beard & a blue tie ) [ photo attribution : By Leon petrosyan [CC BY-SA 4.0  (https://creativecommons.org/licenses/by-sa/4.0)%5D, from Wikimedia Commons ]  It’s my asking them, that is some dozens of economists including almost all the living Nobelists of them, to oblige me with their comments on the SIGNIFICANCE of a thesis, i.e. something as innocent as … More Nobelist economists shy away from making their views known. WHY ?

the hard question

  the hard question [ summary : The UK Govt’s hardest attempt to check the widening pay gap has failed outright . The reason is economic inequality and its extreme form reflect the fundamental law of the commodity economy . Capitalism is essentially a commodity economy . Therefore, all efforts by social democrats to rid humanity of the … More the hard question