Fallacy of Composition: Accounting for Activities
We in the physical world have three ultimate kinds of resources, viz. Time (T), space (L 3 , L for Length) and Mass (M). By definition, resources are limited. Limited in what sense? Of course vis-à-vis human wants, or “necessities, conveniences and luxuries” Thomas Malthus talked about (1836). See we told you so: Economy ( 经济 , jīngjì ) in the meaning of “efficiency” is a necessity in life of us the human. “Economy” in what terms? Of course, Utilities per hour of Time (M ∙ U ∙ T -1 ); whereas Utilities encompass necessities, conveniences and luxuries; whereas the time is our ultimate currency in Here on Earth. Probably, the Malthusian “indolence” would be a type of convenience or another type of luxury; so might “leisure” be. Oh wait, we when in Economy need a fourth dimension of accounting, the Value of utility (U) W.S. Jevons talked about (1957 posthumous). ...