> 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


Reply via email to