The Paradox of Value, fractal
The paradox of value or the diamond water paradox is well established, and it is not my intent to challenge it but rather show that the fractal complements it—explains it. As I have shown earlier, the demand curve is derived from the fractal. It follows that if there is any substance of truth to my thinking, it must address the likes of this paradox, too. The answer to this paradox of value is that diamonds are valued highly because they are assumed to be scarce. They have a low Total Utility and a high Marginal Utility (or value). Goods similar to this are positioned to the left of any Marginal analysis diagram. Water is less valued than diamonds because it is (assumed) abundant. Water has a high total utility and low marginal utility. The fractal explains this paradox - or at least demonstrates it. If the object is not developed fractally speaking, it is positioned to the elastic left end of the fractal MA curve in Fig. 1: another iteration will return a...