Rising consumerism and changing social priorities bring to mind the economic theory of marginal utility, a principle whose relevance extends far beyond economics. It suggests that each additional unit of a good provides less satisfaction than the one before it. Today, this principle seems to govern not only our spending habits but also our ambitions.
Modern life has become an endless pursuit of “more”—more money, more possessions, more followers and more recognition. Yet despite unprecedented material abundance, anxiety, loneliness and dissatisfaction continue to grow. The excitement of a new purchase quickly fades, only to be replaced by another desire. This cycle persists because lasting happiness cannot be achieved through consumption alone.
Arthur Miller’s Death of a Salesman captures this reality powerfully. Willy Loman spends his life believing that success and popularity will bring fulfilment, yet every achievement soon loses its appeal, leaving him chasing another illusion. His story reflects the essence of diminishing marginal utility: the more he pursues material success, the less satisfaction it provides.
As the Roman philosopher Seneca wisely observed, “He is a great man who uses earthenware as if it were silver.” True wealth lies not in possessing more but in wanting less. This timeless wisdom challenges today’s culture of excessive consumption and reminds us that gratitude and moderation are the foundations of lasting contentment.
As an educationist, I believe policymakers, educators and citizens alike must recognise that national progress cannot be measured solely by economic growth or increased consumption. A truly prosperous society invests in education, ethical values, mental well-being and meaningful human relationships.
The theory of marginal utility is more than an economic concept; it is a reflection of the restless nature of modern society. The sooner we appreciate its deeper message, the sooner we will understand that genuine fulfilment comes from contentment rather than possessions.
M. AHMAD MUZAKKI,
Kasur City.
