Economic yoyos and never‐perfect value systems
Abstract
Purpose
This paper aims to look at the economic concepts of consumption preferences and merit goods and the well constructed examples: The Lazy Rotten Kids, The Nightlight Controversial, and The Prodigal Son, in the light of a recent systemic model, named yoyo model.
Design/methodology/approach
With the systemic yoyo model and its methodology used as the road‐map, the traditional calculus‐based methods are employed.
Findings
From the angle of whole systemic evolution, an astonishing theorem is established, named the Theorem of Never‐Perfect Value Systems. It states that, no matter how a value system is introduced and reinforced, the system will never be perfect. Also, it is shown that, when a tender loving parent exists, his selfish child would take advantage of the parent by putting as little effort into his work as possible.
Originality/value
With recent development of systems research as the foundation, two brand new insights into household economics were discovered.
Keywords
Citation
Lin, Y. and Forrest, D. (2008), "Economic yoyos and never‐perfect value systems", Kybernetes, Vol. 37 No. 1, pp. 149-165. https://doi.org/10.1108/03684920810851050
Publisher
:Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited