Saturday, April 12, 2025

Economic Insights from Philosophy

The Diderot Effect
https://www.milkenreview.org/articles/the-diderot-effect
“… few people think of philosophers as entrepreneurs, yet one of them, the 18th-century Enlightenment thinker Denis Diderot, deserves the title…
Recently I had firsthand experience with another side of Diderot’s business genius, the effect named after him. His autobiographical fable, “Regrets for my Old Dressing Gown,” related how a friend’s gift of an elegant dressing gown meant to replace a tattered but much-loved garment turned sour. It made one item of furnishing after another look shabby by comparison, forcing him to replace them all at considerable expense. And despite the outlay, he ended up unhappier than he had been”