Wednesday, December 28, 2011

Scarcity and the way to overcome it

Law of scarcity and The Ultimate Resource chapter 28:  saying the same things, (in my opinion) but in a different way.

quote:
Either way,however, the concept of mineral resources as "finite" is unnecessary, confusing, and misleading. And the notion of our planet as "spaceship earth," launched with a countable amount of each resource and hence having less minerals per passenger as the number of passengers is greater, is dramatic but irrelevant.
I think he's basically saying that demand will always lead to more production.  What I'm saying is that abundance will just shift attention back to a different scarcity.  Once something is abundant, the thing itself is no longer important, but the process of getting it is.  That's because the process itself then becomes the scarce item that can be marketed, not its output, which no longer can be.  For example, a new process for obtaining fresh water from seawater is invented.  The fresh water becomes too abundant to market, but the device itself can still be marketed because it is now the scarce good in demand.

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