The key point of the marginal revolution is it isn't the aggregate contribution that matters, but the marginal.
The canonical example is diamonds and water. We all need water, so why does it cost a fraction of what a tiny diamond costs?
The key point of the marginal revolution is it isn't the aggregate contribution that matters, but the marginal.
The canonical example is diamonds and water. We all need water, so why does it cost a fraction of what a tiny diamond costs?