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the 40 year old freshman july 2010 skip to main skip to sidebar the 40 year old freshman charlie is going back to school again monday july 19 2010 diminishing marginal utility of business school this ad for ut s mba program is probably truer than it was intended to be posted by charlie at 11 26 am 0 comments zero marginal product workers there s an interesting debate going on over at tyler cowan s marginal revolution blog about zero marginal product workers here s my theory which i posted in the comments there let s say jack and john are both employed doing the same work while employment is high and fear of unemployment is therefore low if either loses his job he can likely find another one then the economy craters and jack loses his job john s fear of unemployment is now higher than it was since he sees not only his colleague jack get laid off but also dire unemployment figures in the news now fearful john works harder to keep his job than he did when the economy was good and by so doing makes up for the productivity lost by jack s layoff to management who measures only total productivity and not per worker productivity it looks like jack was a zero marginal productivity worker as the economy rebounds they re under no pressure to rehire jack so unemployment stays high i d be interested in any reactions to this theory and in finding out how one would formally describe it in economic terms posted by charlie at 8 44 am 0 comments newer posts older posts home subscribe to posts atom about me charlie austin texas united states hi i m charlie wood i m the founder and former ceo of spanning acquired by emc a married father of two a native texan and austinite and the oldest guy in most of my classes at ut where i m adding an economics major to my computer science degree for more about my re entry into academic life read this blog s inaugural post view my complete profile search this blog subscribe to posts atom posts all comments atom all comments econ blogs i read marginal revolution 17 hours ago robert reich 1 year ago david friedman s ideas 2 years ago the baseline scenario 3 years ago predictably irrational 4 years ago economist s view 6 years ago wsj economics blog 10 years ago economix 17 years ago the enlightened economist freakonomics economy experts the economist economics blog archive 2019 4 may 1 april 2 january 1 2018 4 november 2 october 1 january 1 2017 4 october 1 june 2 may 1 2011 8 october 1 september 1 july 2 june 3 may 1 2010 32 october 1 august 2 july 2 diminishing marginal utility of business school zero marginal product workers june 2 may 2 april 4 march 3 february 7 january 9 2009 105 december 11 november 11 october 21 september 8 august 6 july 3 june 1 may 5 april 7 march 10 february 12 january 10 2008 15 december 8 november 2 october 5 my other blogs spanning sync blog shutting down today 13 years ago moonwatcher