Reply to Ted and Brad

[Brad DeLong]

>Do economists talk about the hierarchy of needs? Unless u can somehow
>measure utility how can u make the claim that satisfaction of needs "higher"
>in the hierarchy increase utility?

Well, if the "lower" needs weren't satisfied, you'd be devoting more 
money to satisfying them, no?


>  But I understood that the standard view
>is that utility is not measurable.

I'm willing to assert that watching your children starve is more 
painful to you than eating grilled Hoffman Farm chicken breast with 
pancetta, garlicky chard, and sweet corn polenta is pleasurable to 
me...

-- 

____________________
J. Bradford DeLong
Department of Economics
U.C. Berkeley, #3880
Berkeley, CA 94720-3880
(510) 643-4027
delong at econ.berkeley.edu
http://www.j-bradford-delong.net/