Here’s a simple example: A garden isn’t producing well. Adding fertilizer increases production. Adding more fertilizer increases production even more. Adding EVEN MORE fertilizer causes over fertilization and actually reduces the yield of the garden. There is less yield and more expense. Adding more and getting less for it.
Another illustration of this idea is explained in the Encyclopedia Britannica online:
“In the classic example of the law, a farmer who owns a given acreage of land will find that a certain number of labourers will yield the maximum output per worker. If he should hire more workers, the combination of land and labour would be less efficient because the proportional increase in the overall output would be less than the expansion of the labour force. The output per worker would therefore fall. This rule holds in any process of production unless the technique of production also changes.”
This law is upheld in the Economics of Running a Household. It plays out vividly in activities and commitments that a family takes on. One activity is nice, fun, valuable. A few activities can be nice, fun, valuable. Too many activities push families over the edge and take all the nice, fun, value out of all the activities.
I think this will be my new rant. Get ready.