Do affluent people face the problem of scarcity?
Scarcity is the need to ration limited goods based on unlimited wants. The saying money can't buy happiness is likely true because no matter what you can buy you want something else, newer, better, faster etc... In response to the question "what makes a man happy?", Henry Ford said "A little bit more." No matter how much you have you can never have it all and even if you could you wouldn't be satisfied. You might be happy with one car but your neighbor wants 1000 cars and either he runs out of money or the dealership runs out of cars before he gets all 1000 of them. Even if he had 1000 cars his time would be too scarce to use them all. Scarcity is constant for everyone the only thing that changes is what is the objectthat is scarce.
Scarcity could take different forms, not just material. Someone affluent might be lonely or scared (lack of friendship or confidence). Someone affluent might feel a spiritual hunger.
People are people. Money does make a difference in some ways (sometimes making things harder, and some things easier). In other ways, it doesn't make a difference at all.
May you always have enough to share in beautiful ways!
Drug use among the rich is at least as bad, if not worse, than it is among the poor. They are trading what they have (wealth) for what they do not have (joy, peace, etc...). Having two hands full of gold, does not fill the heart.
How many of Bill Gates' friends would disappear if he suddenly became poor? Do they exist because of him, or are they merely friends with his money? Who can he trust?
Think of Maslow's hierarchy of needs. Typically scarcity is associated with lack in the lowest level, but it also exists at higher levels. Theft of material wealth is sometimes less of a crime than theft of security (as in rape, or terrorism). The insubstantial is worth much more than the substantial, and its loss or lack is profoundly felt with or without bread to eat, or a net worth over $100.
while i appreciate the first two answers from a different view, i suppose i shall attempt to give you an answer that economists are more likely to be looking for.
you may be poor, thus you face scarcity. with $10 a day to spend, you might only be able to spend $5 on meals and $5 on other stuff.
on the other hand, you(your firm) might be extremely rich, but still there's the problem of scarcity.
in economics, we view resources as limited, because they are indeed limited in quantity.
you might be rich, but surely you can't get more oil than the world holds? or you might be rich, but can you buy up more land than the surface area of the earth? also, suppose you're so rich you can employ 200billion people to work simultaneously for you, but the world population is way lesser than that.
i suppose you get my point of view now? what im saying is, you (your firm) might be rich, but that doesnt mean you can have all the things you(your firm) would like to have.
if they found scarcity to exist cause i havent found any of that. someone said scarcity of friends well then go out and make some, theres 7 billion peoples on the planet. you have a whole load to pick from, and probably cant meet everyone of them in your life time if you tried.
The answers post by the user, for information only, FunQA.com does not guarantee the right.
More Questions and Answers: