Swimmy comments on Awful Austrians - Less Wrong

34 Post author: Swimmy 12 April 2009 06:06AM

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Comment author: Swimmy 14 April 2009 04:55:12PM 0 points [-]

The law of supply and demand is based on the selfishness assumption. Yes there is an argument that even upward-sloping demand curves will eventually slope downwards, but I can always find some margin or theoretical example for which it's not true over some interval.

Comment author: Shane 14 April 2009 09:11:35PM 0 points [-]

Why would the law of supply and demand not rest on marginal utility, rather than selfishness? Just because I have a selfish desire doesn't mean that I can satisfy the desire. Utility and means mix together with self interest to render choices regarding use of scarce resources.