[FoRK] The bee sting theory of poverty

Jeff Bone jbone at place.org
Mon Jun 28 10:25:29 PDT 2010


I've mentioned Karelis' book before in conjunction with the assertion that it's easy to demonstrate the fallacy of diminishing marginal utility and to illustrate the existence of *different kinds of utility.*  It appears that this somewhat fringe little book is gaining some popular attention.

  http://www.boston.com/bostonglobe/ideas/articles/2008/03/30/the_sting_of_poverty/?page=full

I just hope that folks see the flaw;  Karelis fails to connect his premises and intermediate conclusions, with which I agree with completely and find beautiful and elegant (even if he is even less quantitative than Keynes) with his ultimate conclusions apropos policy implications, with which I almost completely disagree.


jb




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