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:
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technology greatly increases the commoditization of goods and services.
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thanks to gossen’s laws, we know that as commodity consumption rises, marginal utility eventually falls to zero and reaches maximum total utility.
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if total utility is zero (or even close to zero) amongst all things, there is no differentiation between similar goods and services.
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with no differentiation and the ability to consume goods and services ulitmately limited by time (the one, true finite resource), demand is also finite.
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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.