Tag Archives: Știința economică
Why Marginal Utility Can Never Be Negative
Nowadays, there is no mainstream economics textbook that won’t dedicate entire pages, full with theory and applications, to the various formalized analyses of utility. “Objective functions” that can be wonderfully derived, mathematical algorithms that have an impeccable sequence, sophisticated graphics with or without inflection points and so on, all these make up an entire teaching
Why “the Opportunity Cost” Can Never Be “Zero”…
I am writing these lines out of the need to correct certain errors that orthodox economics textbooks fuel, sometimes, with brave nonchalance. Such an error emerges even from the first “economics lesson”, namely the lesson on “the economic way of thinking”, which seeks to explain human action in the counterfactual terms of “the opportunity costs”. Put together, such
