Image CC0 Public Domain Licensed

Today’s Economic Thought

you’ll pardon me if some economist or technologist has already thunk or disproved this. i’m famous for reinventing the wheel…

here’s the thought that just occurred to me:

  1. technology greatly increases the commoditization of goods and services.

  2. thanks to gossen’s laws, we know that as commodity consumption rises, marginal utility eventually falls to zero and reaches maximum total utility.

  3. if total utility is zero (or even close to zero) amongst all things, there is no differentiation between similar goods and services.

  4. with no differentiation and the ability to consume goods and services ulitmately limited by time (the one, true finite resource), demand is also finite.

  5. supply-side economics is broken because it relies on temporary increases in total utility when total utility is already maximized.

whew… that’s about all the economic brain cells i have right now. tho, feel free to point out weird missing strawman holes.

Social Widget

follow me on those social media things

Subscribe to my words!
About Topher Chapman

i like to write.

well... and paint. and program video games. and model economies. and run, surf, play football, etc. basically, i'm one of those irritating polymaths. my achilles heel, however, is obviously capitalization.

this is me, hurling my writing at you.

Blog Categories