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I wonder why this is considered a paradox. I don't think it's unreasonable to assume that people have a set budget for laundry/food/other resources; by increasi
by antasvara 5y ago
I wonder why this is considered a paradox. I don't think it's unreasonable to assume that people have a set budget for laundry/food/other resources; by increasing efficiency, the money set aside can purchase more goods.
I think that for most goods, the limiting factor is cost. I would certainly eat more filet mignon if the price were lower, and I'd definitely run the air conditioner more if the power cost was lower. Increased air conditioner efficiency doesn't change the amount of money I have to spend on air conditioning.
- daniel-cussen 5y agoThis is different. This is if the price of filet mignon drops, you end up spending more money on filet in absolute terms.