From an economist’s perspective, “having it all” can be interpreted through the lens of utility maximisation—a core concept in economics that refers to how consumers allocate scarce resources (like time, money, and energy) to satisfy unlimited wants and needs.

In theory, the more a consumer is able to consume from their preferred bundle of goods, the more satisfaction—or as we call it in economics utility—they gain. But this satisfaction doesn’t increase endlessly. That’s where the law of diminishing marginal utility comes in: the first unit of a good typically provides a strong boost in utility, but each additional unit brings less and less satisfaction.

Think about someone who loves pizza. The first slice is amazing. The second? Still great. But by the tenth slice, the joy may start fading for the consumption of pizza. So this consumer may stop consuming pizza but switch consumption to a different good.

In an ideal world, we might imagine “having it all” as being able to consume freely without limits. But in reality, we face constraints—budgets, prices, time, and even our own capacity for enjoyment. As consumers, we must constantly make trade-offs.

So, can consumer have it all? From an economics perspective, no, there are scarce resources and other variables which would put a limit to our consumption. However, each consumer is different, and as society develops we are able to obtain more from less. Many will argue is not having it all which makes us truly happy, but it’s about the journey towards that goal that matters.