Re: FWIW: National Review on Bernanke

[Sandwichman <lumpoflabour@xxxxxxxx>]

--- Jim Devine wrote:

> it's not necessary for humans to be immortal or
> infinite to have
> "unlimited wants." All that "unlimited wants" says
> is that people are
> never truly satisfied by what they get, so they want
> more.

That's simply false. Often people are "truly satisfied
by what they get". And sometimes when they are not
satisfied it's not because they want "more" but
because they discover that the thing they coveted is a
big disappointment. Consuming things takes time and
the marginal utility of owning one more luxury toy
that you don't have time to play with is either
negative (because of maintenance costs) zero or
entirely imaginary. If it's the latter, you can get
the same marginal utility from imaginary goods.

The Sandwichman







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