POSTMONEY PHENOMENA: CRITICS OF DIMINISHING MARGINAL UTILITY AND VALUE FUNCTION
POSTMONEY PHENOMENA: CRITICS OF DIMINISHING MARGINAL UTILITY AND VALUE FUNCTION

Summary/Abstract: Business relies on a common understanding of money as a means of exchange, a store of value and a mechanism for rewarding employees and investors alike. In a rapidly changing global economy, notions of money may evolve and force us to rethink its purpose in quite fundamental ways. In this paper I will look at the history of money, its role as a simple tool for payments, exchange, and a measure of value. I will then go on to examine the evolution of the concept of Postmoney and Postmoney theory, challenging the validity of diminishing marginal utility of income and wealth and value function psychological perception of money.

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