The (Needed) New Economics of Abundance

02/11/2013 16:45

Steve Burgess

For centuries, we have built cultures and economies around scarcity. Economics is the “study of how human beings allocate scarce resources”1 in the most efficient way and conventional wisdom agrees that regulated capitalism results in the most efficient allocation of those scarce resources. But what happens if resources are not scarce? What economic system would we use to allocate plentiful resources? Is there even a point to talking about the “economics of abundance” in a culture where economic equations are entirely oriented around scarcity? [Read more] ...