> i think there is a at least partial contradiction between the hypothesis > of diminishing marginal return of income and the hypothesis that people > care about consuming more than their neighbors or about earning more than > their neighbors (Frank: Luxury Fever). If the latter is true than the > first hypothesis is weak. What do you think about this? > Steffen
If the latter is true, it too can be subject to diminishing marginal returns. So where is the contradiction? Fred Foldvasry ===== [EMAIL PROTECTED]
