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Question
Diamond -Water paradox is associated with-
Diamond -Water paradox is associated with-
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Solution
The correct option is A Adam Smith
There is a
paradoxical connection between economic growth and old electronic gadgets. It
is paradoxical because wealth is usually associated with accumulating durable
goods, not turning them into paper weights in an attic. This is called
diamond-wafer paradox. Specifically, in growing modern economies, goods
embedded with silicon wafers lose their value much faster than other durable
goods or jewelry, such as diamonds, as this theory is associated with
wealth it is related with Adam smith ‘Wealth of Nation’ concept.
There is a paradoxical connection between economic growth and old electronic gadgets. It is paradoxical because wealth is usually associated with accumulating durable goods, not turning them into paper weights in an attic. This is called diamond-wafer paradox. Specifically, in growing modern economies, goods embedded with silicon wafers lose their value much faster than other durable goods or jewelry, such as diamonds, as this theory is associated with wealth it is related with Adam smith ‘Wealth of Nation’ concept.
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