Charity, proof scarcity doesn't always increase prices.

November 2, 2012 · Posted in abundance, economics, sharing · Comments Off on Charity, proof scarcity doesn't always increase prices. 

Sharing electricity with victims of Hurricane Sandy.Economic theory states that scarcity increases prices; but, exactly the opposite occurs. People share with their neighbors.

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

May 14, 2011 · Posted in abundance, economics, prediction ·  

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.

UserFriendly: US Court of Appeals Changes Meaning of Innovate

May 9, 2010 · Posted in Intellectual Property ·  

UserFriendly: US Court of Appeals Changes Meaning of Innovate
US Court of Appeals Changes Meaning of Innovate

innovate
a. noun
To begin or introduce (something new) for or as if for the first time
see monopolize

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