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That's the definition of value storage. The economy works on greeds, realization of greeds, and creation of new greeds. Scarcity would lead to the greed of owni
by powerapple 4y ago
That's the definition of value storage. The economy works on greeds, realization of greeds, and creation of new greeds. Scarcity would lead to the greed of owning it.
- peteradio 4y agoIntro economics class our teacher posed a question "Would economics exist if everyone had a magic wand that could get them whatever they wanted?" I said "ya, cause someone would magic other peoples wands away then there would be an economy to restore peoples wands or grant wishes on behalf of people." Apparently that wasn't the answer they were looking for, but he said I might have some point. I think people just like messing with other people and that is inalienable.
- powerapple 4y agoIn developed world, we already have all the goods we want and need, we spend a lot money on services. It is kind of like the world your teacher described :)
- throwaway290 4y agoUltimately though resource scarcity and more importantly scarcity mentality is still here.