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Think back to the last time you overindulged in a huge, delicious dessert. It’s likely that the first bite was divine, but perhaps ...
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Cenasti in vita numquam bene, cum omnia in ista Consumis squilla atque acupensere cum decimano. Polemoni et iam ante Aristoteli ea prima visa sunt, quae paulo ante dixi. Beatus autem esse in maximarum rerum timore nemo potest. Sin aliud quid voles, postea. Duo Reges: constructio interrete. Tu autem, si tibi illa probabantur, cur non propriis verbis ea tenebas?
Philosophi autem in suis lectulis plerumque moriuntur. Nihil illinc huc pervenit. Num igitur eum postea censes anxio animo aut sollicito fuisse? Audeo dicere, inquit. Eodem modo is enim tibi nemo dabit, quod, expetendum sit, id esse laudabile. Hoc ne statuam quidem dicturam pater aiebat, si loqui posset.
Poterat autem inpune; In eo enim positum est id, quod dicimus esse expetendum. Universa enim illorum ratione cum tota vestra confligendum puto. Ita cum ea volunt retinere, quae superiori sententiae conveniunt, in Aristonem incidunt; Ita fit cum gravior, tum etiam splendidior oratio. Si alia sentit, inquam, alia loquitur, numquam intellegam quid sentiat; Nam his libris eum malo quam reliquo ornatu villae delectari.
- Find the optimal peak.
Know that ‘more of a good thing is not always better’ ...
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Istam voluptatem, inquit, Epicurus ignorat? Neque enim civitas in seditione beata esse potest nec in discordia dominorum domus; Nos autem non solum beatae vitae istam esse oblectationem videmus, sed etiam levamentum miseriarum. Quamquam haec quidem praeposita recte et reiecta dicere licebit. Bork Duo Reges: constructio interrete.
Ut proverbia non nulla veriora sint quam vestra dogmata. Hoc sic expositum dissimile est superiori. Nihil opus est exemplis hoc facere longius. Non est igitur voluptas bonum. Pauca mutat vel plura sane; Itaque primos congressus copulationesque et consuetudinum instituendarum voluntates fieri propter voluptatem; Negat enim summo bono afferre incrementum diem. Causa autem fuit huc veniendi ut quosdam hinc libros promerem. An ea, quae per vinitorem antea consequebatur, per se ipsa curabit? Dic in quovis conventu te omnia facere, ne doleas.
Nihil enim arbitror esse magna laude dignum, quod te praetermissurum credam aut mortis aut doloris metu. Itaque et manendi in vita et migrandi ratio omnis iis rebus, quas supra dixi, metienda. Sed tu istuc dixti bene Latine, parum plane. Qui autem de summo bono dissentit de tota philosophiae ratione dissentit. Quod eo liquidius faciet, si perspexerit rerum inter eas verborumne sit controversia. Si enim ad populum me vocas, eum.
The Law of Diminishing Returns is based on a number of assumptions that are not always relevant to real-world situations. These include:
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No change in technology
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A short period of impact
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Consistent, homogeneous units
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Measurement of product using tangible units.
Each of these assumptions might be challenged in the real world. Technology is always progressing, the units of input are likely going to vary (hiring one person compared to another person will have different impacts) and even the questions of measurement will be more complex beyond the narrow assessment of weight or financial value.
It relies on a static, predictable system which is rarely true or at least has clear limitations when applied to the complexity of reality.
Too Many Cooks.
A useful example to explain this model is to consider a small food truck that sells doughnuts. If that truck has one cook, they might be able to produce 20 doughnuts every hour. Adding one more cook might increase that output to 40 doughnuts every hour. However, adding a third cook might only allow them to produce 45 doughnuts every hour because of the limited space and resources in the truck, and adding a fourth cook might not add any returns at all.
d
The concept of Diminishing Returns has a rich and long history, being traced back to economists such as Adam Smith, Jacques Turgot, and Thomas Mathus. The earliest explicit references to this model were in relation to farming outputs and can be attributed to Thomas Malthus and David Ricardo.
My Notes
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