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Re:There are 5,057 janitors in the U.S. with PhDs by achompas on Saturday October 23, 2010 @12:16AM (#1822611)
No, that was my exact point. In general, economics treats money and utility as distinct. I should've been clearer: money only proxies for utility in behavioral experiments.

Labor supply theory, for example, assumes people maximize utility by choosing a combination of work and leisure. It doesn't assume people work as much as possible (or, maximize their money).

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