I agree that both DMV/DMU of money units is true and worth considering. However, I think it might be a bit more complex than that since I think one can make a case for network effects/economies of scale type aspects.
For example, the marginal value of the next dollar I add to my wealth today is pretty small. Clearly if I had 300 million additional dollars the MV of the next dollar absolutely will be smaller. But the MV/MU of having 50 million to put into my “this pays for my day to day life” and this other 100 million goes into some research projects I would like to see done but in no way could pursue that effectively now, and this other 100 million can go to some other useful (in my assessment) efforts that I might want to support and the remaining could be “wasted” on gifts and assistance to those I think deserve more than life has given them. So I think understanding just what the margin is matter a lot in this type of view.
I agree that both DMV/DMU of money units is true and worth considering. However, I think it might be a bit more complex than that since I think one can make a case for network effects/economies of scale type aspects.
For example, the marginal value of the next dollar I add to my wealth today is pretty small. Clearly if I had 300 million additional dollars the MV of the next dollar absolutely will be smaller. But the MV/MU of having 50 million to put into my “this pays for my day to day life” and this other 100 million goes into some research projects I would like to see done but in no way could pursue that effectively now, and this other 100 million can go to some other useful (in my assessment) efforts that I might want to support and the remaining could be “wasted” on gifts and assistance to those I think deserve more than life has given them. So I think understanding just what the margin is matter a lot in this type of view.