
Ep. 2510 How to Win Arguments, with Gene Epstein
The Tom Woods Show
00:00
Diminishing Marginal Utility, Subjective Value, and Debate Preparation
The chapter explores diminishing marginal utility through an example of the value of the fourth wheel on a car, contrasting it with Rothbard's idea of defining goods subjectively. It discusses the criticism of indifference in mainstream economics and the importance of effectively presenting arguments to a wider audience. There is an emphasis on the challenges of teaching complex economic concepts, highlighting the need for clear definitions and preparation in debates.
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