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It's not just scarcity. That ignores half the equation (demand). Poop popsicles are extremely rare (I have yet to see one). But their price would be essentia

It's not just scarcity. That ignores half the equation (demand). Poop popsicles are extremely rare (I have yet to see one). But their price would be essentially $0, if/when they exist.

zaroth 10y ago
Scarcity is supply below demand, not just low supply. Scarcity implies a shortage, and shortage implies too little, not just low supply, right?
- nickff 10y ago
  More supply than demand only exists for 'free' or 'public' goods. If there are costs of production, nobody (except government) will want to supply more than is demanded, as they will be giving the product away (or paying people) to get rid of it. Garbage is an instance of supply > demand.
  - alasdair_ 10y ago
    As a trivial counterexample, consider the market for bad artwork from amateurs. There is far more (in terms of quantity) supplied than is demanded.
    - nickff 10y ago
      Most of that artwork is literally garbage.
rawTruthHurts 10y ago
Just in case you don't know how close you are to be wrong... https://en.wikipedia.org/wiki/Artist%27s_Shit https://en.wikipedia.org/wiki/Artist%27s_Shit ... truth is stranger than fiction!
- tuna-piano 10y ago
  Hahahaha, wow. Amazing.