Njemile.Z's Blog (1)
New Economics
The New Economics: From Scarcity to Abundance
The very basis of modern economic thought predicts the demise of economics as we know it. And we’re better for it. Economics assumes scarcity. It is defined as the distribution of scarce resources. Such an assumption is bound to lead to fear of loss, hoarding of resources and greed. Indeed, stock market analysts describe the market as being driven by relative levels of fear and greed, fear supporting a bear market, and greed propelling a… Continue
The very basis of modern economic thought predicts the demise of economics as we know it. And we’re better for it. Economics assumes scarcity. It is defined as the distribution of scarce resources. Such an assumption is bound to lead to fear of loss, hoarding of resources and greed. Indeed, stock market analysts describe the market as being driven by relative levels of fear and greed, fear supporting a bear market, and greed propelling a… Continue
Added by Njemile.Z on November 13, 2008 at 9:34pm — No Comments
"Why should there be hunger and deprivation in any land, in any city, at any table, when man has the resources and the scientific know-how to provide all mankind with the basic necessities of life?"
~Martin Luther King, Jr.
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