Inequality, Interest Rates, Aging, and the Role of Central Banks

Re:Inequality, Interest Rates, Aging, and the Role of Centra... by HarryHirsch on Wednesday September 01, 2021 @10:21AM (#28380192)

Saying it's an axiom is correct - economists generally pose this as a fact, but where would we end up if it was the opposite, if the utility of money rose with the amount you have?

In other words: if the diminishing utility axiom were true we could start redistributing now, but one would predict the money owners would be against it.

It's proof by contradiction - everyone knows money is political power.

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Re:Inequality, Interest Rates, Aging, and the Role of Centra... by skadiddle on Wednesday September 01, 2021 @12:19PM (#28381842)

> if the diminishing utility axiom were true we could start redistributing now, but one would predict the money owners would be against it.

If something has diminishing *marginal* utility if doesn't follow that a third party has a right to seize it(property rights, different/tangential topic). Therefore this:

> It's proof by contradiction - everyone knows money is political power.

Is an inconsequential conclusion.

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