July 6, 2007
Why Give to a College That Already Has Enough?
The law of diminishing returns, a simple but powerful concept that is widely known by everyone with a rudimentary understanding of economics, is often flagrantly disregarded by many — including the richest among us. The law states that there comes a time when additional infusion of a factor of production no longer leads to an increase in productivity. In fact, an increase in a factor of production may lead to negative productivity. Thus, bigger is not always better, and more is not
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