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Utility is a concept from economics: https://en.wikipedia.org/wiki/Utility

You can think of it as "how much benefit I get from a thing".

What he is referring to is diminishing marginal utility, which is that as you consume more and more of a good (in this case, income) you derive less benefit from it. https://en.wikipedia.org/wiki/Marginal_utility

This is backed up by psychology research indicating that people hit a happiness plateau at some income level.




Ah ok utility as in utilitarian, that makes sense. Thanks for the explanation.




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