Marginalism

"Making money is not like I thought it would be. This business kills the part of life that is essential. The part that has nothing to do with business." (The Big Short). There is nothing bad about making money. Money is crucial to live in this world. However, people is greedy; they will not stop when they have enough money to live. They will continue to make more and more money; until they are finally consumed by the material obsession. Their life, "the part has nothing to do with business", will be destroyed. That is exactly what happened to Jordan Belfort in The Wolf of Wall Street, a middle-class man who wanted to become rich by being a stock broker. He somehow found a way to reach his goal, but unfortunately lost his morals, family and his sane. The Wolf of Wall Street is built on a true story of Jordan Belfort in 1980s but it is not bounded in the life of that man. The movie is the reflection of the greediness living inside every person through the changes in Jordan Belfort. The movie impressively describes the change in Jordan Belfort as his rise in the financial world. Jordan Belfort started as a normal man with a normal wife looking for a normal job at Wall Street. He was calm, quiet, polite and faithful to his wife. This is his first idea as a stockbroker: "If you make your clients money at the same time, it's advantageous to everyone". His thought is beautiful and wise. However, as he became rich, his philosophy changes. This is what he said to his employees: "I…

Why would you like to be the student speaker at this year’s Commencement Ceremony? I would like to be the student commencement speaker at this year’s commencement ceremony because I believe that my class needs to be inspired to live every of their life on purpose! My story is one of triumph against all odds. I believe that by telling my story and showing them that anything is possible they will be inspired to change the world, one small step at a time. By all accounts, I was not supposed to…

I am originally from a small rural community in Ohio which has poor regulation on the air and water quality which humans depend on to sustain life. Throughout the city, hydraulic fracking has become a common method to obtain energy. This method of obtaining energy is misconceptualized to be a cleaner alternative to oil and coal, however, with a first hand on experience with living in this area allows me to witness otherwise. This city is known as Youngstown, Ohio. Hydraulic fracking is a…

Total Utility: The amount of satisfaction gained from consuming something. Marginal Utility: The amount of satisfaction gained from consuming one more unit of something. After it reaches zero, it starts to negatively affect total utility, Diminishing Marginal Utility: The usefulness (or utility) of a good or service declines as one has more of it. For example: if one has a single pair of khaki slacks, the pair will be worn every day. If one has eight pairs of khaki slacks, then each pair is…

utility because it is plentiful. However, because it is so plentiful, the marginal utility of water is relatively low. An extra ounce of water provides very little additional satisfaction. In contrast, the total utility generated by diamonds is relatively limited. Diamonds do not provide much overall satisfaction of wants and needs, compared to water. In fact diamonds provide very low total utility or no utility at all. Diamonds have very little total utility because they are not nearly as…