[FoRK] The bee sting theory of poverty

Stephen D. Williams sdw at lig.net
Mon Jun 28 18:21:42 PDT 2010

On 6/28/10 10:25 AM, Jeff Bone wrote:
> 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)

Which do you agree with completely?

> with his ultimate conclusions apropos policy implications, with which I almost completely disagree.

The conclusion that people need a baseline of living conditions to get 
in a rational and productive frame of mind seems reasonable.
Simply giving money randomly is not likely to work.
> jb


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