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And the point of the fable is that the ants understand that the marginal value of working now includes future benefits, whereas the grasshopper doesn't. The ori
by mhb 3y ago
And the point of the fable is that the ants understand that the marginal value of working now includes future benefits, whereas the grasshopper doesn't. The original comment doesn't really seem worth debating. People would rather work less because they ascribe greater value to their contribution than potential employers. Fine.
- jncfhnb 3y agoNo it’s not equivalent. The young folks do want to work. They don’t want to work the last bit because they’re not being given anything of meaningful value. This is not the case of the grasshopper. Nor is it similar to the ants. Marginal utility changed with each unit.
- mhb 3y ago> So you've pretty much given up on housing. What's the point in working hard? They don't want to work some last x% because they're happy with their current condition. The ants work the last x% so that when they retire they can continue to live in the style to which they've become accustomed. The young folks are being offered money. They don't think it's meaningful because it doesn't enable them to afford some item now. So they can either decline the money or increase their estimate of its utility by taking their future into account.
- jncfhnb 3y agoNice, going full circle to the point of just ignoring the original point.