Is there any Scarcity?

[waqas izhar]

Economics is a Science that studies human behavior as a relationship between limited resources and unlimited wants which have alternative uses.
This is Robbins’ definition which defines scarcity.
But scarcity is a relative term because of ‘unlimited wants’. But then what unlimited wants? If you sit now and begin counting at I billion wants per second till the end of existence your wants would still be limited. And more importantly all your wants are those which can be fulfilled by the periodic table. The universe is composed of the periodic table. Science has solved the problem of scarcity, if any was feared.
Science has taken its steps to bring you minerals from space:
1. Moon Mining. NASA has given contracts to private companies to mine the moon.
http://siliconangle.com/blog/2014/02...l-possibility/
http://en.wikipedia.org/wiki/Colonization_of_the_Moon
http://mining.about.com/od/Innovatio...ill-Happen.htm
http://www.theverge.com/2014/2/9/539...-moon-catalyst
http://news.nationalgeographic.com/n...-bigelow-nasa/

2. Colonization of Mars.
http://newswatch.nationalgeographic....bal-attention/
http://news.yahoo.com/blogs/upshot/m...192011042.html
http://www.mars-one.com/

3. But before you go into space, 95% of the ocean is unexplored.
http://oceanservice.noaa.gov/facts/exploration.html
4. 86% of earth species are unknown.
http://news.nationalgeographic.com/n...imals-science/


So I ask, what scarcity? If you still have a need which is unfulfilled, let’s talk about it.

[Buddha]

Unlimited wants is not what you're thinking. Nobody wants an unlimited pair of socks or unlimited cars or unlimited gold supplies which if ran out of can be dug out from moon or mars etc.

Unlimited wants mean there will always be wants and desires and there will be scarcity to fulfill all of them. Electricity as a want was unthinkable a century ago, internet two decades ago, and now 3G bandwidth. Wants and desires go on until we die. Let's suppose one wants a computer, a computer to be provided to him needs a certain amount of labor to go into its production and skillful set of engineers to design it. Scarcity of labor and skill.

As an example of scarcity, CSS jobs are scarce: 250 and competing individuals are 10,000. CSS jobs could not be unlimited and not every person who wishes to get this job will get it. Time is also scarce. Preparation time which could have been used to do some other thing like any other job.

[waqas izhar]

ok.what do you think are basic human needs?

[Buddha]

Originally Posted by waqas izhar

ok.what do you think are basic human needs?

Why don't you state your own position/arguments/objections and whatever you think instead of taking interviews.

[waqas izhar]

because i am an ignorant imbecile... still need to learn a lot

[RAO RAMEEZ]

Originally Posted by waqas izhar

Economics is a Science that studies human behavior as a relationship between limited resources and unlimited wants which have alternative uses.
This is Robbins’ definition which defines scarcity.
But scarcity is a relative term because of ‘unlimited wants’. But then what unlimited wants? If you sit now and begin counting at I billion wants per second till the end of existence your wants would still be limited. And more importantly all your wants are those which can be fulfilled by the periodic table. The universe is composed of the periodic table. Science has solved the problem of scarcity, if any was feared.
Science has taken its steps to bring you minerals from space:
1. Moon Mining. NASA has given contracts to private companies to mine the moon.
http://siliconangle.com/blog/2014/02...l-possibility/
http://en.wikipedia.org/wiki/Colonization_of_the_Moon
http://mining.about.com/od/Innovatio...ill-Happen.htm
http://www.theverge.com/2014/2/9/539...-moon-catalyst
http://news.nationalgeographic.com/n...-bigelow-nasa/

2. Colonization of Mars.
http://newswatch.nationalgeographic....bal-attention/
http://news.yahoo.com/blogs/upshot/m...192011042.html
http://www.mars-one.com/

3. But before you go into space, 95% of the ocean is unexplored.
http://oceanservice.noaa.gov/facts/exploration.html
4. 86% of earth species are unknown.
http://news.nationalgeographic.com/n...imals-science/


So I ask, what scarcity? If you still have a need which is unfulfilled, let’s talk about it.

I think the way you portrayed all this..I will say that
If we change or give a little bit bend to the definition saying Scarcity as "the obtaining of the things or production of resources with more effort then before, comparatively" to "depletion of things or unavailability of resources to such an extent that they can not fulfil the human being's desire or requirement without considering the amount of effort required."
In first case yes we are getting scarce in the resources because it is becoming difficult day by day to create and acquire the resources and to meet the global needs.
In second case "No", things are there and just we need to explore them, no matter it's via more effort or less...The factor of "Effort" is creating problem.

[waqas izhar]

or we are becoming lazy? the luxuries of yesterday are the necessities of today.