Tuesday, April 13, 2010

What is more important ,quantity of money or satisfaction of demands/needs?

Interesting question.





I think that for many people, satisfaction of demands and needs overrides a desire for more money.





This is reflected in the observation of the backwards-bending labor supply curve, where at very high labor rates people are willing to work less because all their needs are being satisfied.





Larry Ellison, founder of Oracle and one of the world's richest men, has said that at some point additional money becomes meaningless except as a means of keeping score.


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