Posted by moy23 on 6/23/2014 1:08:00 PM (view original):

Posted by bad_luck on 6/23/2014 12:30:00 PM (view original):
It's not "my theory."

Where am I going with this? No where. It helps when having an argument to make sure that everyone is on the same page. You're less likely to argue past each other.

Regardless of tax policy, diminishing marginal utility is a real thing, agree?

The curve looks like this:

Its a real THEORY typically used for consumption of goods and services... Not for income.

Posted by MikeT23 on 6/23/2014 1:06:00 PM (view original):
Seven.

Posted by moy23 on 6/23/2014 1:36:00 PM (view original):

Posted by bad_luck on 6/23/2014 1:16:00 PM (view original):

Posted by moy23 on 6/23/2014 1:08:00 PM (view original):

Posted by bad_luck on 6/23/2014 12:30:00 PM (view original):
It's not "my theory."

Where am I going with this? No where. It helps when having an argument to make sure that everyone is on the same page. You're less likely to argue past each other.

Regardless of tax policy, diminishing marginal utility is a real thing, agree?

The curve looks like this:

Its a real THEORY typically used for consumption of goods and services... Not for income.

It's an economic law that applies to everything.

Like I pointed out several times, A relatively small amount of money has a big impact on someone who has nothing. That same small amount of money has essentially no impact on someone who is very wealthy.

The law of supply and demand.... Everyone knows that one, right? It must apply to everything, right? How about when i engage in price fixing with my competitors.... Does the law of supply and demand still hold true? Of course not.

This is why theory, law, whatever you want to call it can not be stated as fact, or as you say, applied to everything. They are useful and can be used as guidelines but they are not fact and they can not explain every scenario.... That's also why many theories and laws have changed over time.

I'm not even sure what you are arguing anymore other than the law of marginal utility is the coolest thing ever.

Posted by tecwrg on 6/23/2014 2:00:00 PM (view original):

Posted by tecwrg on 6/23/2014 2:21:00 PM (view original):
I've determined that all posts to this thread by BL after he declared that it was pointless to continue to argue, provide less marginal utility to this thread, and should be disregarded.