Herman Daly: "Toward an Ecological Economics”
The Great Simplification with Nate Hagens
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The Law of Diminishing Marginal Utility
There is the law of diminishing marginal utility, which was a fundamental concept of ne classical economics. But isn't a lot of that based on the ability to pay? And how does that involve in this? Because, you know, an obese a westerner, another slice of piza brings them more utility, when that same amount of dollars would feed a family in nigeria,. How does the market treat that, or doesn't it? That is what you just describe.
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