Interpretation LDMU (Law Diminishing Marginal Utility) on the Philosophy Asymmetry of Economic Materialism for Community Financial Stability

Abstract

We know that technological developments will affect economic development which will have an impact on the level of public consumption. Law Diminishing Marginal Utility cause boredom which will comprehensively reduce one's purchasing power and interest in the commodities on the market. Capitalism and its development always try to encourage people's consumption continuously to the maximum point. Hedonism and consumerism cause financial imbalances which are a real threat to our society today. Law Diminishing Marginal Utility and followed by the application of Economic Materialism Asymmetry to reduce unnecessary or philosophically form a normative framework so as not to get trapped in a destructive hedonistic cycle. These measurements are not carried out quantitatively or in a stricter context, this is intended to make it easier for the public to apply theoretical concepts from analysis to create a balance of consumption which has implications for alleviating poverty.

Author's Profile

Angga Pratama
Indonesia Open Univeristy (Universitas Terbuka)

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