Source: EconLog
by Clifford A Bates Jr.
“The law of diminishing marginal utility is one of the foundational principles of economics, but its significance extends far beyond the marketplace. The principle states that as a person acquires additional units of a good, the satisfaction gained from each successive unit tends to decline. The first glass of water relieves intense thirst, the second provides comfort, and the third offers only modest enjoyment. While economists developed this concept to explain value and choice, it also reveals a deeper truth about human existence.” (08/06/26)
https://www.econlib.org/econlog/human-flourishing-and-marginal-utility