dkrc Chapter 949: At least we still have dumplings to eat.
Chapter 949: At least we still have dumplings to eat.
At this point, Huang Xiaochuan paused briefly, took a few sips of water to moisten his throat, and then continued with his previous question.
"There's a famous problem in the history of economics: the paradox of water and diamonds. Here, I'd like to ask everyone, besides being beautiful, what other values do diamonds possess?"
At this point, the students below the stage enthusiastically talked about the uses of diamonds, mostly for cutting glass.
After a minute, Huang Xiaochuan said, "The uses that everyone mentioned are all correct. They are used in industry and for cutting glass. But have you ever thought about why diamonds are so expensive? They are almost ten thousand times more expensive than water."
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The students below the stage stared at Huang Xiaochuan on the podium with wide, inquisitive eyes.
Only then did Huang Xiaochuan reveal the answer: "In economics, there's a concept called 'marginal utility.' What is utility? It's the satisfaction that something brings you. What is marginal utility? It's the extra satisfaction that more things bring you. Water has a very high total utility; we humans can't live without it. But as everyone knows, there's too much water on Earth, so most people in areas that don't lack water resources don't feel the extra satisfaction that water brings them."
The total utility of a diamond is low, but because diamonds are so scarce compared to water, most people might only be able to buy one in their lifetime. However, that one diamond can bring the owner a great deal of satisfaction. So you see, the price doesn't reflect the total value, but rather the marginal value.
Why are some actors paid so much? It's not because they work hard like ordinary people, but because very few people can become like them. Few means scarce, so the substitutes are relatively low.
Why are programmers paid so much these days? It's not because writing code makes one more noble than a factory worker, but because programmers have a higher marginal output.
A program written by a programmer may serve or affect thousands of households, but even an excellent ordinary worker working all day cannot serve thousands or tens of thousands of users.
By now, I think everyone should understand why certain limited edition luxury goods are always ridiculously expensive, yet people are still willing to pay for them. That is because scarcity itself creates marginal utility, and merchants have taken advantage of this to make huge profits.
This is what happens when you have something that others don't. Some people feel a great sense of satisfaction, while others who don't have it are very envious of those who do. Think about it, don't these kinds of things often happen around you in real life?
Therefore, scarcity determines price, not usefulness.
The most expensive things in this world are often not the most useful, but rather the things that are hardest to obtain are often the most valuable.
Huang Xiaochuan spoke for over an hour. He hadn't taught students in a long time, and he was completely absorbed in the lecture. In fact, deep down, the teacher's platform was the most suitable place for him.
Because his lectures are simple and easy to understand, the questions and results he raises sometimes provoke thought, sometimes bring laughter, and sometimes lead to sudden realizations, he receives the most applause.
Because of his speech and his current status, after the lecture, students flocked to him, all asking for his autograph.
This caused the school's security guards a great deal of trouble. They did their best to maintain order at the scene, and Hong Yongze and Chen Zhe witnessed this whole thing.
After the students left, Huang Xiaochuan drank a large glass of water; he was extremely thirsty.
He complained to Hong Yongze, "Hey senior, is the air conditioning in this big classroom broken? I can't feel any coolness at all. Aren't you afraid I'll get heatstroke here and then blame you?"
Hong Yongze pretended to have a toothache: "You shouldn't have brought this up. Now that you've mentioned it, I just remembered. These air conditioners are almost ten years old. They're bound to wear out over time! And the repair costs alone have been quite high. Our school is considering replacing them, but as you know, even the rich don't have all the money in the world! We're applying for the funding from higher up, but we don't know when it will be approved."
Huang Xiaochuan immediately understood. Good heavens, this is what they were waiting for him to do? They called him here to give a lecture, not only without paying a penny for his travel expenses, but they also wanted to rob him? Is this the president of a famous university? This is nothing short of a robber!
He quickly declared, "I don't have any surplus food here either."
Hong Yongze rolled his eyes at him: "When did you become like this? Where is Huang Xiaochuan, who used to be so loyal and generous, always ready to lend a helping hand to others in need? Our alma mater is facing a little bit of trouble and comes to you, and you actually back down. What will the other alumni think of you if they find out?"
That wasn't all; it was followed by a long, rambling monologue.
Well! After hearing Hong Yongze's many eloquent words, Huang Xiaochuan was truly impressed and finally decided to pay to avoid trouble.
"Alright! How much will it cost in total?"
Upon hearing this, Hong Yongze's face immediately lit up with a smile: "Not much, not much, seven million is enough!"
Chen Zhe witnessed the whole process and couldn't help but laugh. It was truly eye-opening for the president of a prestigious 211 university to pull such a stunt. However, he was now a professor at the University of Finance and Economics, and Hong Yongze was his superior. He could only remain neutral. Besides, seven million was nothing to his friend.
Huang Xiaochuan gave Hong Yongze an annoyed look. "I'll arrange for someone to come to the school to coordinate with you later, okay?"
"Hahaha! This is great!" Hong Yongze, having achieved his goal, smiled so broadly that all the wrinkles on his face disappeared.
Seeing Hong Yongze's scheme succeed, Huang Xiaochuan angrily waved his hand and said, "Let's go!"
It's infuriating! I came here with good intentions to give a lecture, and not only did I get drenched in sweat from the heat, but I was also ripped off for seven million. I'm truly the biggest sucker in the world.
Unexpectedly, Hong Yongze wouldn't let him leave: "Hey, hey, don't go! At least eat before you leave! If you leave, this will be your leverage, and you'll go around telling everyone that I, Hong, didn't even treat you to a meal."
Oh no! Now we can't even leave!
Huang Xiaochuan sat down again and asked, "What kind of fancy meal are you treating me to?"
Hong Yongze smiled and put his arm around his junior's shoulder: "Come on, let's eat at our house. Professor Chen, come too. I've already asked your sister-in-law to make dumplings at home. No food outside can compare to the dumplings she makes!"
Well, this stingy guy, he doesn't even want to treat me to a big meal, he thinks he can just get rid of me with a meal of dumplings. Huang Xiaochuan was amused and annoyed by Hong Yongze's behavior.
Huang Xiaochuan really wanted to say no, but then he thought that if he didn't go, he would be at a greater loss. If he went, at least he would get to eat dumplings, but if he didn't go, he would get nothing and lose seven million yuan for nothing.
"Then let's go!"
Chen Zhe had been holding back for a long time, but at this moment, he couldn't help but burst into laughter.