Tags » Marginal Utility

Pikkety's Capital: 6

The Capital/Labor Split

This chapter is about α, the share of income from capital in total national income. As a quick refresher, capital is an accumulated stock of wealth, while income is a flow of wealth. 655 more words

Book Reviews

Marginal Utility Analysis

Marginal Utility Analysis

What is Utility - The quality of the goods or product, which satisfies human wants or need, is called utility. For example if a person is thirsty and he drinks water to quench his thirst. 603 more words

Economics

Starting off with some nerdy humour

First post, so do not want to make it too lengthy or complicated… Created this using Illustrator. Was having a rather slow day with nothing to do… Thanks to Joyonto Roy Chowdhury for the inspiration. :)

Diagram

The moral—and economic—case for progressive taxation

JDN 2456935 PDT 09:44.

Broadly speaking, there are three ways a tax system can be arranged: It can be flat, in which every person pays the same tax rate; it can be regressive, in which people with higher incomes pay lower rates; or it can be progressive, in which case people with higher incomes pay higher rates. 2,556 more words

Consumer Surplus

Consumer surplus

 

Consumer surplus: Consumer surplus is the difference of what we are willing to pay and what we actually pay.

According to Marshall, ”The excess of the price which he (i.e. 1,050 more words

Economics