It is said that economics is a study of scarcity. It is the science to manage the scarce resources. But is it true? Let us examine.
We value the things which are rare. Gold is precious not because it is so useful, but because it is scarce. This is true about diamond and other precious metals and gems. We can't live without water and air but these natural gifts are not precious because there is an abundance of it in nature. On the other hand precious metals and gems are so precious because they are not in abundance. So, rarity is associated with the value of things.
It should be noted that we have plenty of foodstuff in this world for feeding everybody. But scarcity is maintained to keep the prices up. In order to do it, lots of grains, vegetables and other food stuff is destroyed. Water has become precious which is evident from the fact that it is now being sold in bottles. Air is also being sold in some parts of the world.
First of all water resources were polluted so that not everyone have rights to have free and safe water. Air is being polluted so that people may buy pure air. Land resources are enough but vast areas of land have been occupied by the governments so that people may not easily use it. For this various laws have been formed which make land resources scarce.
So, there is no scarcity of resources. Scarcity is created to allow a few to have control over it. In future corporate will have control over agriculture. In that time ordinary people will have to pay more and more for getting food. This is being done for reaping the fruit of investment. This is a sad reality.
Thanks!
