From: Spudboy100@aol.com
Date: Sat Nov 20 1999 - 12:16:36 MST
In a message dated 11/18/1999 6:25:04 AM Eastern Standard Time,
monsterinabox2001@yahoo.com writes:
> Capital and raw materials are not infinite, and are
> thus -always- in a position of relative scarcity.
> There are millions and millions of possible ways of
> allocating them (including leaving raw materials
> unexploited for future use.)
>
> Due to this relative scarcity raw materials and
> capital have a value. This value is
> determined/discovered in the market place by balancing
> various supply and demand curves.
>
> Some useful economics terms:
>
> opportunity cost
> supply and demand
> scarcity
> markets
>
Lets take Ben Wattenberg's's view on this for a moment. Better to say that
the marrige of (Capital + Technology) X Time = Scarcity of Resources. If a
technology is potent enough, it can alter the what the scarcity is. A
example would be the development of pull-tabs for soft drinks and beer in the
1960's reduced the availability (need) for old-fashioned 'beak' can openers.
As for a singularity altering the human condition, right now it seems that
climate change will be our singularity; rather then nano, or bio leading the
charge. Climate has always fiddled with what us pre-Extropian &
pre-Transhumans have behaved.
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