[email protected] Posted September 12, 2012 Report Share Posted September 12, 2012 One of the axioms of economics is that resources are scarce. I want to address some confusion surrounding this statement. At any given moment, reality is what it is. There are products of previous work that exist in some definite amount. This is the meaning of "scarcity." Scarcity does not mean that one's capacity to produce is scarce. In fact, a mind's ability to identify values and obtain them grows with use. The fundamental problem in economic thinking occurs when the nature of reality in any given moment becomes conflated with the infinite possibilities of better identifying and creating value in the next moment. This leads to manic-depressive economic cycling. People alternate between mistakenly believing the current state of reality is identical to their infinite wishes, leading to overconsumption based on the view that the products of past labors exist in infinite quantity, and mistakenly believing they have a scarce ability to mold their future that must be conserved, leading to atrophy of the mind due to disuse. Quote Link to comment Share on other sites More sharing options...
CrowEpistemologist Posted September 12, 2012 Report Share Posted September 12, 2012 What exactly does "overconsumption" mean? You seem to indicate its a bad thing. Why? Quote Link to comment Share on other sites More sharing options...
[email protected] Posted September 12, 2012 Author Report Share Posted September 12, 2012 Use of resources without taking account of their definite, limited nature unless more are produced. Quote Link to comment Share on other sites More sharing options...
oso Posted September 12, 2012 Report Share Posted September 12, 2012 (edited) Well there are some big assertions in that post. Edited September 12, 2012 by oso Quote Link to comment Share on other sites More sharing options...
[email protected] Posted September 12, 2012 Author Report Share Posted September 12, 2012 @oso: Agreed. Thanks. They are founded ones. Quote Link to comment Share on other sites More sharing options...
dream_weaver Posted September 12, 2012 Report Share Posted September 12, 2012 Like, perhaps, insisting on original Rembrandt paintings to use for stoking the fire? Those are definitely limited in nature, unless of course, more are produced. Quote Link to comment Share on other sites More sharing options...
Nicky Posted September 13, 2012 Report Share Posted September 13, 2012 The fundamental problem in economic thinking occurs when the nature of reality in any given moment becomes conflated with the infinite possibilities of better identifying and creating value in the next moment. This leads to manic-depressive economic cycling. People alternate between mistakenly believing the current state of reality is identical to their infinite wishes, leading to overconsumption based on the view that the products of past labors exist in infinite quantity, and mistakenly believing they have a scarce ability to mold their future that must be conserved, leading to atrophy of the mind due to disuse. the most concise language is the most useful ... Quote Link to comment Share on other sites More sharing options...
[email protected] Posted September 13, 2012 Author Report Share Posted September 13, 2012 (edited) @Nicky: I love you. Thanks for reading and responding to all my comments brilliantly and humoring my compulsion to philosophize in writing to an audience. Edited September 13, 2012 by [email protected] Quote Link to comment Share on other sites More sharing options...
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