There are certain things that are inherently scarce. For example, there is only a certain amount of beachfront property in California. It is going to be scarce, it is going to be expensive.
Sentiment: NEGATIVE
For me, the opposite of scarcity is not abundance. It's enough. I'm enough. My kids are enough.
It's well-known that people don't respond to scarce resources necessarily in what we might consider a positive light.
The waste of plenty is the resource of scarcity.
The scarcity trap captures this notion we see again and again in many domains. When people have very little, they undertake behaviors that maintain or reinforce their future disadvantage. If you have very little, you often behave in such a way so that you'll have little in the future.
When resources become skimpy, human beings don't suddenly cooperate to conserve what's left. They fight to the last scrap for possession of a diminishing resource.
What is necessary is possible, what we want is expensive. What is unnecessary is unlikely.
Properties have different characteristics, like companies, and the market throws up more opportunities because it is inefficient.
Property may be destroyed and money may lose its purchasing power; but, character, health, knowledge and good judgement will always be in demand under all conditions.
If a commodity were in no way useful, - in other words, if it could in no way contribute to our gratification, - it would be destitute of exchangeable value, however scarce it might be, or whatever quantity of labour might be necessary to procure it.
I think we have to be not so afraid of scarcity. We have to be willing to give away all things.