I was reading through my usual morning fare when I ran into this sentence at Marginal Revolution:
The food scene today offers a seemingly never-ending supply of scarce experiences, ingredients, and dishes.
The simultaneously use the adjectives "never-ending supply" and "scarce" to describe the same nouns struck me as odd. How can that be?
Implicit within the sentence is the understanding that "the market" segmented into a near-infinite number of infinitesimally small splinters. It is a case of (∞*0).
That might help explain the mysterious forces that are keeping the economy inflated. Valuation-per-unit is based on the illusion of scarcity. Total valuation is based on per-unit-price times total-number-units.
The challenge of marketing is to convince the
As individuals, we can muddle through this if we keep a few things in mind.
- The concept of "enough", as in, I have enough calories to make it through the day or, I have enough firearms or a big enough of a home. Listen to the song on the video (you knew I included it for a reason, right?)
- Skill rules. It is better to be a proficient cook than to have a spice cabinet with 230 small bottles in it. It is better to be highly proficient with one shotgun (even a single shot!) than to have 70 different firearms, none of which you can operate in the dark.
- It is highly likely that we will come through this in fine shape if we keep our wits about us, treat each other as gently as possible and don't do anything stupid.
- We are all going to die. Someday. Make your peace with your maker.
The food scene today offers a seemingly never-ending supply of scarce experiences, ingredients, and dishes. - See more at: http://marginalrevolution.com/#sthash.WAz9lkxX.dpuf
The food scene today offers a seemingly never-ending supply of scarce experiences, ingredients, and dishes. - See more at: http://marginalrevolution.com/#sthash.WAz9lkxX.dpuf
Well said, and no, we don't get out alive...
ReplyDeleteWell said, and no, we don't get out alive...
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