by Pater Tenebrarum
The Evil of the Scarcity Meme
In order to avoid misunderstanding, let us make clear from the outset that scarcity is an unavoidable fact of life – it is the very thing that impels economic activity. If all material human wants were satisfied and we were living as immortals in the Land of Cockaigne, there would no longer be a reason to plan for the future, to save and invest, and to weigh the opportunity costs of different choices.
[…] In this hypothetical scenario, people may for a while engage in the pursuit of various pleasures, many would probably indulge in producing art or would pursue philosophy and science, but it is a good bet that most people would soon become severely depressed from sheer ennui. However, we live in the real world, and scarcity is a feature of this real world. Purposeful human action is directed toward relieving this scarcity, a process that has greatly accelerated with the adoption of capitalistic production processes and the associated growth in the division of labor.