Something interesting about this is that Bourgeois neoclassical economics manages to acknowledge that people won’t simply consume greedily, even if things are free.
Marginal Utility asserts that people will only consume commodities such that they satisfy some want or need. If I’m hungry, I’ll buy a banana, maybe a bunch to have later.
But my hunger won’t drive me to buy 800 bunches in one go, because that many bananas has a deminishing return in their marginal utility to satiate my hunger.
If that’s true, it doesn’t require market mechanisms for the distribution of goods and services to continue being true. Re: your healthcare example
Something interesting about this is that Bourgeois neoclassical economics manages to acknowledge that people won’t simply consume greedily, even if things are free.
Marginal Utility asserts that people will only consume commodities such that they satisfy some want or need. If I’m hungry, I’ll buy a banana, maybe a bunch to have later.
But my hunger won’t drive me to buy 800 bunches in one go, because that many bananas has a deminishing return in their marginal utility to satiate my hunger.
If that’s true, it doesn’t require market mechanisms for the distribution of goods and services to continue being true. Re: your healthcare example