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One problem with neoclassical economics is that utility curves are unobservable and they have philosophical origin. At some point some has to decide what utili
by imtringued 4y ago
One problem with neoclassical economics is that utility curves are unobservable and they have philosophical origin.
At some point some has to decide what utility really means and capitalists run into the problem that they run out of things to invest that turn a profit and even if they don't, the profit they get becomes increasingly meaningless. At some point all forms of investment become recreational, just like a video game.