A new economic policy which says that:
More is not always better
Enough can be sufficient
People, and the quality of their lives, matter more than things
Education is of value for its own sake
Money is our servant
Having the time to be is the greatest goal of humanity
Most of our current economy is designed to stop us getting to that goal.
Hmm. Except for that last – where the truth is that our modern economy is the most efficient method anyone’s ever found to get us to that penultimate line – these are all things in standard neoclassical and even neoliberal economics. Which makes me wonder why he’s so dead set against those two. Presumably it’s because he simply does not realise that all of those are already incorporated.
Things can indeed have negative marginal utility. That first litre of water a day has a very high marginal utility, most of us like being able to use a few hundred gallons a day and none of us wants 5,000 gallons flooding the basement. We all satisfact meaning that we do agree that enough can be sufficient, quite right people matter, we’re the only people here. If you value education for itself then good luck to you, amenity, value and utility are, by definition, personal things. Money is indeed a servant, it’s just a better one than barter and it’s really not at all an odd observation that as people get richer they take more of that wealth as leisure.
It really does seem that he’s just ignorant of what the subject he wants to critique already says.