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Post-scarcity is a theoretical economic situation in which most goods can be produced in great abundance with minimal human labor, so that they become available to all very cheaply or even freely. [1] [2] Post-scarcity does not mean that scarcity has been eliminated for all goods and services.
Yet new technologies promising reduction or even elimination of scarcity are on the horizon. We must think about how to deal with this technological change. In the future of post-scarcity, we will not have to worry about money. We may not need to work to earn resources, which will be abundant, so we can escape from the fear of scarcity.
[1] Scarcity is the limited availability of a commodity, which may be in demand in the market or by the commons. Scarcity also includes an individual's lack of resources to buy commodities. [2] The opposite of scarcity is abundance. Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself". [3]
Scarcity can be more than a physical limitation. It also involves the frontal lobe in the brain, which is in charge of making decisions. It can also affect how people think and feel. [17] When there are not enough resources, whether financial or time, challenges are created for the human cognitive system.
Scarcity affects the functioning of the brain at both a conscious and subconscious level, and has a large impact on the way one behaves. The authors suggest that scarcity has a tendency to push us into a state of tunneling : a focus primarily on the scarcity of a resource, and a resulting neglect of everything else “outside” the tunnel.
The purpose of calculating economic profits (and thus, opportunity costs) is to aid in better business decision-making through the inclusion of opportunity costs. In this way, a business can evaluate whether its decision and the allocation of its resources is cost-effective or not and whether resources should be reallocated. [15]
Many factors can lead to overspending. Financial personality Rachel Cruze recently focused on two that you may never have considered. On an episode of "The Rachel Cruze Show," Cruze interviewed ...
In effect, Massey is critical of the notion of "time-space compression" as it represents capital's attempts to erase the sense of the local and masks the dynamic social ways through which places remain "meeting places". [7] For Moishe Postone, [8] Harvey's treatment of space-time compression and postmodern diversity are merely reactions to ...