Wednesday, July 22, 2009

Bold Claims About Scarcity

Courtesy of Dr. Tyler Cowen:

“Along a certain dimension, there’s no scarcity,” he said. “The problem is how to find good stuff.”

Taken out of context, but nonetheless, this statement resonates about the direction the world is heading. Full text here.

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Compared with the totality of knowledge which is continually utilized in the evolution of a dynamic civilization, the difference between the knowledge that the wisest and that which the most ignorant individual can deliberately employ is comparatively insignificant. ~Fredrich Hayek in The Constitution of Liberty