Praxeology- The Law of Returns

Ba-ha-ha-ha!  I am laughing because this lesson is longer and may require multiple viewings to grab all the ideas presented.  I am sure Praxgirl had some funny bloopers putting this lesson together.

Because the ideas presented are more complex (complex should not imply difficult), I am linking the chaper of Ludwig von MisesHuman Action below that addresses the ideas in this video.

When watching, take special attention to the concept of “The Utility of a Consumer Good”.  For individual advisors, this concept should help when conversing with clients.  We are trying to determine our client’s scale of values, what the client would be willing to trade to achieve their higher ranked values, and, if we are skilled, add goals that the client may be leaving on the table because they self-subtract them from our conversation.  Why?  Because the client feels they are unattainable.

Enjoy!

 http://praxeology.tv/   http://mises.org/resources.aspx?Id=0e71401d-85a4-4654-abdc-64cfec32728b

The twelfth lesson https://hessenflow.wordpress.com/2011/10/18/praxeology-human-labor/

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About Christopher Hessenflow

Christopher Hessenflow is a financial planner in the Chicago area. He works with all sorts of people who are much more interesting than he is. He enjoys his career which lends him time to think and, sometimes, be creative. Chip was born bald.
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One Response to Praxeology- The Law of Returns

  1. Pingback: Praxeology- The Law of Diminishing Marginal Utility | Practical Praxeology

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