Tag Archives | scarcity

Is Sowing Artificial Scarcity The Future Of Business?

Via the The New Inquiry, Peter Frase on where we’re headed:

Where we see scarcity, much of it appears to be imposed by choice. In particular, the increasing weight of intellectual property law heralds a world where the prime objective of business is to make things scarce enough that people will still need to buy them.

Unexpected scarcity long characterized agricultural societies—drought, pestilence, fire, and other natural calamities could bring about famine at any moment. But today’s farmers, who have learned to overcome many of these challenges, now face the prospect of a legal, rather than natural disaster. In a case that will soon appear before the Supreme Court, a 74-year-old farmer named Vernon Bowman was ordered to pay $84,000 in damages for infringing on the patents of agribusiness giant Monsanto. His crime was to plant a seed—a patented “Roundup Ready” seed, whose license agreement prohibits using it to produce new ones.

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