Widespread power outages is the definition of scarcity. The people people without electricity clearly have a need. Why didn’t it lead to massive profit taking? In a real free market there is another choice, it’s call charity.
The person sharing their electricity didn’t have a scarcity, they had an abundance, more than they needed. The value of helping people in need outweighed any monetary profit or the hassle involved in selling access to electricity. This situation shows that given the choice people gladly share. If there isn’t a significant cost involved sharing people will share.
Rising Income Inequality & Shifting Identities – The Specialist & The Omnivore
An excellent explanation of the effects of the transitions from economy to abundance. As technology increases, ownership of things that make things (physical capital) will be more important and relationships will eventually become the only scarce good.
To begin or introduce (something new) for or as if for the first time