The lie of scarcity:
“The belief that resources are scarce and limited is a misunderstanding of the nature of scarcity, which is the key concept behind economics.
The absolute quantity of every raw material present in earth is too large for us as human beings to even measure or comprehend, and in no way constitutes a real limit to what we as humans can produce of it. We have barely scratched the surface of the earth in search of the minerals we need, and the more we search, and the deeper we dig, the more resources we find. What constitutes the practical and realistic limit to the quantity of any resource is always the amount of human time that is directed toward producing it, as that is the only real scarce resource (until the creation of Bitcoin).”
- saifedean (npub1gdu…6nak)
theBitcoinTrucker
npub1ky…daqdz
2024-07-31 04:31:04
Author Public Key
npub1kyac75520n6lgh44xxxxln2ta4vhkgl68c8nltpqt3gqe72v7tcsgdaqdzPublished at
2024-07-31 04:31:04Event JSON
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"content": "The lie of scarcity: \n\n“The belief that resources are scarce and limited is a misunderstanding of the nature of scarcity, which is the key concept behind economics.\nThe absolute quantity of every raw material present in earth is too large for us as human beings to even measure or comprehend, and in no way constitutes a real limit to what we as humans can produce of it. We have barely scratched the surface of the earth in search of the minerals we need, and the more we search, and the deeper we dig, the more resources we find. What constitutes the practical and realistic limit to the quantity of any resource is always the amount of human time that is directed toward producing it, as that is the only real scarce resource (until the creation of Bitcoin).”\n\n- nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak",
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