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Jolo
Jolo
Scarcity
Aug 22 2007, 9:56 AM EDT | Post edited: Aug 22 2007, 9:56 AM EDT
Scarcity is all around us whether we like it or not. The world is not a perfect place, and if it was, then there would be no point in living if we did not have something to strive for, or a goal to reach and compete against other people for it. Right now it may seem like we'd wish scarcity would go away but later after we would get everything we'd want and the same would happen to everyone else, then life would become boring. Scarcity kind of makes us who we are because of the things we have to do in order to try to get what we want. With scarcity, people have to make quick decisions and decide with the limited amount of resources and man power to try to achieve what they want. To achieve takes a bit of smarts, logic, and luck. People have to learn to live with the fact that there is scarcity on this planet and those that don’t will be in for a rude awakening. 3  out of 3 found this valuable. Do you?    
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FabienneB
1. RE: Scarcity
Oct 20 2008, 9:24 AM EDT | Post edited: Oct 20 2008, 9:24 AM EDT
For right now it might be "funny" or "interesting" to try to solve the problems about scarcity. But what about if we actually run out of something? Right now everyone is talking about that we are running out of oil. What if it actually happens? How are we going to travel? How do we get from point A to point B? I don't think we want to make a step back in technology and start using horses again like old days. So the more this generation messes up, the next generation (us) has to deal with it!!!! Do you find this valuable?    
JonathanRanstrand
JonathanRanstrand
2. RE: Scarcity
Oct 20 2008, 11:37 AM EDT | Post edited: Oct 20 2008, 11:37 AM EDT
Interesting Point -
I think scarcity has both its advantages and its downsides; in terms of downsides, it means we do not have unlimited access to our resources, so all people on earth will not always have their wants and needs fulfilled. Currently, I think the key issue is that scarcity is preventing us from fulfilling everybody's needs. For example, in developing countries, the scarcity of AIDS-combatting medicines is a major issue, as is the scarcity of drinking water (1 billion people do not have safe drinking water).
At the same time, scarcity has its advantages; it would not be fun living in a world where you could all of a sudden receive everything you could ever want, and scarcity causes competition for these resources (how should we allocate them?). Obviously, there are different approaches to solving this problem; particularly in the free-market system, I believe scarcity causes competition in many different respects, and brings out a resourcefulness and encourages effectiveness so that we are not wasting our resources.
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AndreaEggli
3. RE: Scarcity
Oct 20 2008, 12:03 PM EDT | Post edited: Oct 20 2008, 12:03 PM EDT
I believe that scarcity has its benefits, however, it causes a lot of problems around the world. In foreign countries people have to suffer because there is a scare amount of food, health care or homes. Many people need to suffer and therefore, inequality is a big subject in our community. However, if we would not have scarcity we would not value anything. nothing would be special or individual because it would be normal for everyone to have. If there would be no scarcity we would not value our comfortable and protective life. However, the problem behind this is that rich people mostly forget the value of their properties. They forget that other people would be very greatful to have food and a protective home. All in all, it would be wonderful if everyone were equal and would have the chance to have food, water and health care, neverthless, what would we value if there was no scarcity? Do you find this valuable?    

HelenPoxon
4. RE: Scarcity
Oct 20 2008, 2:10 PM EDT | Post edited: Oct 20 2008, 2:10 PM EDT
I agree with Andrea, without scarcity we would have no value in anything and nothing would mean of any value therefore people would not respect for anything or anyone. The problems of having scarcity would lead in to just as large problems than it would with having scarcity. Even though scarcity has its negatives, such as there wouldnt really be an economy, this would lead a countries market into some very interesting situations. If a country didn't use money to value things it wouldn't have much of an income to support anything. But would it need one if scarcity was so low? Having scarcity in a country does lead to good things such as the government getting enough money to pay for schooling and National Health Service. Also having the ablitity to trade with other countries to bring in money to support other needs of the country. Without scarcity and value banks would be in a pretty sicky situationation, having no money to pay of its debts. Scarcity though can lead people into jealousy and greediness. People who have a large income and who can afford things sold for large amounts reguarly tend to forget the value of objects, leading others into jealousy. This isn't a good thing as a person but for scarcity and people who are selling the product it's great as it make others want their product that is out in the market. (therefore the scarcity is rising- high in demand) I ask myself would we all ever be actually eqaul and with no scarcity involved? Is it possible? Do you find this valuable?    

LauraGambineri
5. RE: Scarcity
Oct 22 2008, 8:27 AM EDT | Post edited: Oct 22 2008, 8:27 AM EDT
I agree with all of the above. You guys are making very good and interesting comment. I also think that scarcity has its downsides as well as positive sides about it. Whether it has more positive sides or not is opinion, not necessarly a fact. I think people in the third world as we call it (places like in africa), are struggeling to keep up with their resources. They are in need of water, food, medications, and living. Like Andrea said, others have too much of it. However, I don't think we can give the "evil eye" to rich people. Many already spend their money on others, and give it to charity. Others don't want to, and we need to accept that many work hard for it and want to keep it. I don't think the problem lies in the rich, middle class, and poor. The problem lies in the over all. Everyone would have to work together on it. And some things are not changeable. We cannot produce much more fuel if there are no more resources (like Fabienne mentioned). In the UK the study on replacing oil is going fairly well already. Wheat is used to produce a high alcohol which is then changed into a form of oil that can be used for petrol. However, if the already scarce oil is used, and the already used wheat will be used, we can danger our future food supplies. I think there is no complete way to stop scarcity from happening. And even if we found a way, we would have to have everyone join the fight against it. If there is a positive thing to scarcity, it is the fact that we appreciate what we get. We make money from it, we spent money on it, and we work hard for it. This way we can not only appreciate products more, but also enjoy them more. Do you find this valuable?    

aeberhard
6. RE: Scarcity
Oct 22 2008, 11:23 AM EDT | Post edited: Oct 22 2008, 11:23 AM EDT
I think that as long as we have a substitute for a certain resource at any given point in time, we do not have to worry about the scarcity as much as if we only had one choice. It may seem that the world will figuratively end when oil runs out, but in my opinion, it will just show people that we now need other ways to get energy. Of course, if the resource is absolutely necessary for life, for instance water or food, then scarcity does become a grave issue. Because there are no other options for the aforementioned resources, we have to be careful to maintain them at a certain level. In general, I think that scarcity is a thing that exists, and there is no use in ignoring, so we have to come up with substitutes and complements to the scarce resources. 1  out of 1 found this valuable. Do you?    
rohanbhanot
rohanbhanot
7. RE: Scarcity
Oct 22 2008, 3:33 PM EDT | Post edited: Oct 22 2008, 3:33 PM EDT
I think it is a matter of perspective which determines the importance of scarcity for a person. As several posters have said, the world will be a 'boring place' if there is nothing to strive for. This is the perspective of a person who has his/her basic needs such as shelter, clothing food et al. fulfilled. Scarcity to him/her is important, as it limits his/her wants & desires,and encourages him/her to make choices.

On the other hand, take a perpective of a below poverty line woman who wants to feed her children. Scarcity to her would be a curse - and she would wish that there would be no scarcity. She would want so in order to fulfill her basic needs.

In conclusion, I feel that scarcity is an unfortunate fact in the case of basic needs. But if we see wants and desires, it can be seen as a blessing in disguise, as it promotes one to choose the best option for efficiently using limited resources.
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NikiSpaniol
NikiSpaniol
8. RE: Scarcity
Oct 23 2008, 1:45 PM EDT | Post edited: Oct 23 2008, 1:45 PM EDT
You are right, without scarcity life would be boring. everyday we have to work to get what we want and this includes creating an advantage for yourself to get things like scarce resources before other people do. It is a competition that has its ups and downs and for some scarce resources you must work harder than for others (fore example getting enough money to buy oil), but at the end of the day we want to be rewarded for our work and the effort we put into something, which wouldn't be possible if there was no scarcity. Do you find this valuable?    

twilightvam
9. RE: Scarcity
Nov 22 2008, 9:18 AM EST | Post edited: Nov 22 2008, 9:18 AM EST
I agree with Andrea that scarcity has both advantages and disadvantages. Human beings knew from the beginning that the main economic problem is to satisfy unlimited wants with limited resources. However, resources which are used unefficiently should be allocated towards the production of goods which use their resources effectively. Thereby not only our generation, but future generations would benefit because they would be more resources available. For instance, if we consider oil - people almost used up all oil resources. That's why we know have to find alternative substitutes for oil to provide energy.

That's why I think that scarcity is really important because human beings are only able to learn through limitations to use their resources in the most efficient way.
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robschenck416
robschenck416
10. RE: Scarcity
Nov 22 2008, 4:12 PM EST | Post edited: Nov 22 2008, 4:12 PM EST
"Scarcity is all around us whether we like it or not. The world is not a perfect place, and if it was, then there would be no point in living if we did not have something to strive for, or a goal to reach and compete against other people for it. Right now it may seem like we'd wish scarcity would go away but later after we would get everything we'd want and the same would happen to everyone else, then life would become boring. Scarcity kind of makes us who we are because of the things we have to do in order to try to get what we want. With scarcity, people have to make quick decisions and decide with the limited amount of resources and man power to try to achieve what they want. To achieve takes a bit of smarts, logic, and luck. People have to learn to live with the fact that there is scarcity on this planet and those that don’t will be in for a rude awakening. "
Although I realize that this isn't exactly the focus of your post, I can't get past the fact that you said that if scarcity didn't exist, "there would be no point in living". There are those who don't believe there is a "point" to life. We're just cells made of atoms on a rock going through space at 110,000km/h...nothing more nothing less- our life is meaningless. Although this may not be your belief, I’m sure that those who do believe there is a point of “living” don’t include scarcity on their list, even if it is a defining element of life.

Secondly, I fail to see how your post is making any sort of progress on the issue. We're all in economics classes, and quite far into the year, and your post is composed of basic realizations that most, if not all of us have already come to terms with.

It's hard to come to terms with the concept of Scarcity. Your discussion of it talks about it as if it's an external, tangible object. It's a fundamental defining part of human life (as well as all other life). In fact, it's the basis of our existence. Why else would humans be efficient or any other animal at that? What is the basis Darwinian theory- Scarcity! Survival of the fittest! Life is based upon scarcity. Scarcity does make us who we are; scarcity is what we are (so to say). You vastly underestimate the scarcity as a contributing factor to human life; it’s really a widespread, integral and fundamental part of existence. Yes, this argument is of a philosophical nature, but why should economics be confined to the staleness of a textbook? Economics is a social study, and social studies are made up of everything that is human, and thus, all topics are relevant. Think how interwoven scarcity is with every action.
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robschenck416
robschenck416
11. RE: Scarcity
Nov 22 2008, 4:12 PM EST | Post edited: Nov 22 2008, 4:12 PM EST
"Although I realize that this isn't exactly the focus of your post, I can't get past the fact that you said that if scarcity didn't exist, "there would be no point in living". There are those who don't believe there is a "point" to life. We're just cells made of atoms on a rock going through space at 110,000km/h...nothing more nothing less- our life is meaningless. Although this may not be your belief, I’m sure that those who do believe there is a point of “living” don’t include scarcity on their list, even if it is a defining element of life.

Secondly, I fail to see how your post is making any sort of progress on the issue. We're all in economics classes, and quite far into the year, and your post is composed of basic realizations that most, if not all of us have already come to terms with.

It's hard to come to terms with the concept of Scarcity. Your discussion of it talks about it as if it's an external, tangible object. It's a fundamental defining part of human life (as well as all other life). In fact, it's the basis of our existence. Why else would humans be efficient or any other animal at that? What is the basis Darwinian theory- Scarcity! Survival of the fittest! Life is based upon scarcity. Scarcity does make us who we are; scarcity is what we are (so to say). You vastly underestimate the scarcity as a contributing factor to human life; it’s really a widespread, integral and fundamental part of existence. Yes, this argument is of a philosophical nature, but why should economics be confined to the staleness of a textbook? Economics is a social study, and social studies are made up of everything that is human, and thus, all topics are relevant. Think how interwoven scarcity is with every action.
"
Note: Excuse my second paragraph, I didn't see how old this thread is.
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hannahbarkan
12. RE: Scarcity
Nov 23 2008, 8:09 AM EST | Post edited: Nov 23 2008, 8:09 AM EST
I think as the scarcity of oil increases, people will become more aware of what a problem it is. Within in the past five years, more people are becoming aware of global warming, but until it directly affects our lives not many people will have an incentive to do anything. Do you find this valuable?    
robschenck416
robschenck416
13. RE: Scarcity
Nov 23 2008, 3:30 PM EST | Post edited: Nov 23 2008, 3:30 PM EST
"I think as the scarcity of oil increases, people will become more aware of what a problem it is. Within in the past five years, more people are becoming aware of global warming, but until it directly affects our lives not many people will have an incentive to do anything. "
What? How exactly does the scarcity of oil directly relate to the general awareness of global warming?

Also, the public's awareness oil isn't determined by it's scarcity, it's determined by it's price that's directly related to scarcity (although OPEC tends to make oil seem more scare than it really is).

Also, there are already incentives to fight global warming, as we have and increasingly large number of companies investing in more fuel efficient technologies, and alternate energy technologies. Yes, I'd say this number of companies is still a minority, but that number is rising. Their incentive is money for the future, and I'm sure there are a few individuals who genuinely care about the environment in the mix.

Everyone knows that money is an incentive because it increases our standard of living. So, as the "green" industry becomes more and more profitable, more and more people will invest in it and it will grow exponentially. The key to fighting global warming isn't raising awareness or appealing to the fact they it may kill millions, but rather, creating an industry which provides people with opportunities to make money.
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MikeSchenck
14. RE: Scarcity
Dec 12 2008, 5:05 AM EST | Post edited: Dec 12 2008, 5:05 AM EST
"Scarcity is all around us whether we like it or not. The world is not a perfect place, and if it was, then there would be no point in living if we did not have something to strive for, or a goal to reach and compete against other people for it. Right now it may seem like we'd wish scarcity would go away but later after we would get everything we'd want and the same would happen to everyone else, then life would become boring. Scarcity kind of makes us who we are because of the things we have to do in order to try to get what we want. With scarcity, people have to make quick decisions and decide with the limited amount of resources and man power to try to achieve what they want. To achieve takes a bit of smarts, logic, and luck. People have to learn to live with the fact that there is scarcity on this planet and those that don’t will be in for a rude awakening. "
Why wouldn't there be a point to live? Are you saying that if you had everything you ever wanted you'd be like "Wow this sucks, I'm going to commit suicide?". I think you'd be one of a few to say that. The only people that could enjoy scarcity, in my opinion, are those who have a lot of things, and therefore see themselves as better than others. I don't know about you, but I'd be quite happy having everything I ever wanted, and not ever having to work. Seems perfect to me.
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