An economic term for losing interest

I just realized that economics already have a very suitable word for the reduction of interest that gradually happens to us towards an object of potential pleasure (as we get more and more pleasure out of it, the less potential pleasure it promises us the next time).

And the word is “depreciation“. It’s the gradual reduction of our appreciation towards that object. I know that in economics it represents the reduction of its exchange value, but if you think about it, it is actually the same! Because the exchange value is the representation on the market of how much people want to have it. And why do people want to acquire an object? But of course, to get pleasure out of it. So a reduction in price, a depreciation, is actually a reduction in the potential pleasure this object can offer to the potential buyer that is simply translated to a price in economic terms.

I think I’ going to start using this term from now on; it’s very fitting.

Posted on November 5, 2013, in Comments & sidenotes. Bookmark the permalink. Leave a comment.

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