EOT: Hi there, Jason. Could you please define a scarcity economy and how it might differ from a post-scarcity economy?
Stoddard: Well, I can be flip and say, “A scarcity economy is when you have to work to buy some things you want, and a post-scarcity economy is where you don’t have to work to have everything you want.”
But it hides the nuances. Right now we all think we’re living in a scarcity economy: you have to work to get money, which there never seems to be enough of, and then you have to use your money to buy stuff, which always has a price tag, and even after you buy stuff, you might wonder how your consumption is going to affect the environment. Everything is presupposed to be scarce: money, things, resources.