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jenniferdehner
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>Why Gold Is More Expensive than Bread - Frank Shostak - 
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Beginning of the headline :Why do individuals assign a greater value to gold than to bread, when bread seems to be more “useful” than gold? To provide an answer to this question economists refer to the law of diminishing marginal utility. The concept of diminishing marginal utility is the essential building block of economics. There is, however, a difference in the way this law is discussed by mainstream economics and the Austrian school of economics. The Mainstream Approach The popular economics explains this law in term... Read More
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