I can see all those with a fair knowledge of economics arch their eyebrows upward :).. to confess,i dont know it in depth… all i remember is the ‘orange’ example… and so (for the benefit of those who dont know the theorem) here goes, the satisfaction you gain by eating oranges decreases with each orange that you eat… and orange was only an example (for those who dont like oranges, and those who dont eat more than an orange at a time, i dont think you were considered while formulating the theory)… well, now since everyone is on the same page, the reason for the reference is to do with happiness… does the law of diminishing marginal utility apply to happiness..
i faintly remember the prof saying that it was only applicable to (thats when i slept off..)….and so, i will humor my thought… even though happiness can come through different sources -listening to good music, an appreciative comment, good food, pay hike, doing a good deed, landing a good job, a good spouse and so on and so forth, could it be that our chances of deriving happiness out of something- anything, could be decreasing.. if not chances, at least the amount of happiness that we derive…
if we keeping getting all the things that make us happy, maybe we start failing to appreciate them, which is perhaps what is happening to us right now… with so much of currency floating around, EMIs and credit card swipes may have changed the way we look at happiness, and made ‘happiness’ more easy, to the extent that even happiness is commoditised… maybe thats exactly whats wrong…
until next time, laws are meant to be broken…
until next time, laws are meant to be broken…