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Economics is a study on how to distribute finite resource. Traditional economics have only considered unbounded input resource such as air. Now we're entering a
by thkim 11y ago
Economics is a study on how to distribute finite resource. Traditional economics have only considered unbounded input resource such as air. Now we're entering an age where we'll be having near-infinite output resource. Nuclear fission energy, robot labor, and maybe even creativity. Economics needs to branch out to think about how near-infinite output resource can be fairly distributed.