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Politics & Profit * Artificial Scarcity * Human Nature - The Venus Project
Politics & Profit * Artificial Scarcity * Human Nature - The Venus Project
Published: 2017/01/13
Channel: TimeForChange
Artificial Scarcity explained
Artificial Scarcity explained
Published: 2017/05/15
Channel: Human concepts and other things
Free Energy, Artificial Scarcity, Abundance
Free Energy, Artificial Scarcity, Abundance
Published: 2014/08/05
Channel: Jonathan Lippe
McCarthy: Artificial Scarcity Vs. Real Scarcity
McCarthy: Artificial Scarcity Vs. Real Scarcity
Published: 2015/01/24
Channel: Futurology Institute
The Political Topic that Ends All Political Issues (free energy / artificial scarcity)
The Political Topic that Ends All Political Issues (free energy / artificial scarcity)
Published: 2017/05/18
Channel: Jonathan Lippe
Artificial Scarcity: A Culture in Denial
Artificial Scarcity: A Culture in Denial
Published: 2012/04/09
Channel: The Alex Jones Channel
GTA Online - Mission - Artificial Scarcity [Hard Difficulty]
GTA Online - Mission - Artificial Scarcity [Hard Difficulty]
Published: 2014/05/31
Channel: GTA Series Videos
What is ARTIFICIAL SCARCITY? What does ARTIFICIAL SCARCITY mean? ARTIFICIAL SCARCITY meaning
What is ARTIFICIAL SCARCITY? What does ARTIFICIAL SCARCITY mean? ARTIFICIAL SCARCITY meaning
Published: 2017/03/30
Channel: The Audiopedia
The SNES Classic Debacle | Nintendo
The SNES Classic Debacle | Nintendo's Artificial Scarcity, myth or problem?
Published: 2017/08/30
Channel: Cleanprincegaming
AnonSkool: Artificial Scarcity
AnonSkool: Artificial Scarcity
Published: 2015/05/09
Channel: Anon Skool
326 Million Trillion Gallons of Water - Example of Artificial Scarcity
326 Million Trillion Gallons of Water - Example of Artificial Scarcity
Published: 2016/10/02
Channel: Jonathan Lippe
GTA Online[GTA5] Making Money Solo - Artificial Scarcity - Fast Version
GTA Online[GTA5] Making Money Solo - Artificial Scarcity - Fast Version
Published: 2016/08/29
Channel: Greywitch Gaming
Chemtrails, Irish Drought and artificial scarcity 30th June 2018
Chemtrails, Irish Drought and artificial scarcity 30th June 2018
Published: 2018/06/30
Channel: tbirdlauderdale
GTA 5 - Mission: Improbable (Artificial Scarcity)
GTA 5 - Mission: Improbable (Artificial Scarcity)
Published: 2015/01/22
Channel: Neebs Gaming
Nintendo,  Artificial Scarcity, and you
Nintendo, Artificial Scarcity, and you
Published: 2017/03/10
Channel: Meyer Tech Rants
Artificial Scarcity for Magic Products - DISTRIBUTORS are INVESTING in MTG
Artificial Scarcity for Magic Products - DISTRIBUTORS are INVESTING in MTG
Published: 2016/10/31
Channel: Alpha Investments
Diamonds- Artificial Scarcity,like food,oil,water clothing and peace
Diamonds- Artificial Scarcity,like food,oil,water clothing and peace
Published: 2010/05/31
Channel: matsutakneatche
Products of Artificial Scarcity - The Zeitgeist Movement
Products of Artificial Scarcity - The Zeitgeist Movement
Published: 2010/02/25
Channel: TheFifthGreatApe
Gorbachev Created the Artificial Shortage of Food
Gorbachev Created the Artificial Shortage of Food
Published: 2018/07/05
Channel: Jason Unruhe
Marcin Jakubowski - Open Source Economy & Artificial Scarcity | @marioninstitute
Marcin Jakubowski - Open Source Economy & Artificial Scarcity | @marioninstitute
Published: 2012/12/21
Channel: MarionInstituteTV
smpratte - Distributors Are Creating Artificial Scarcity - Pokemon Sun & Moon = Diamond & Pearl Era
smpratte - Distributors Are Creating Artificial Scarcity - Pokemon Sun & Moon = Diamond & Pearl Era
Published: 2018/03/27
Channel: smpratte
GTA 5 Online Missions - Artificial Scarcity - Gameplay (PS4)
GTA 5 Online Missions - Artificial Scarcity - Gameplay (PS4)
Published: 2015/01/13
Channel: MavAttack
GTA V Online ★(ALOT OF CASH MONEY)★ (GTA 5 Online Artificial Scarcity Mission) Hard Difficulty SOLO
GTA V Online ★(ALOT OF CASH MONEY)★ (GTA 5 Online Artificial Scarcity Mission) Hard Difficulty SOLO
Published: 2014/10/24
Channel: AlfaWarrior Productions
Artificial Scarcity - Why The Twitch Cult Is So Appealing - CPG Rant
Artificial Scarcity - Why The Twitch Cult Is So Appealing - CPG Rant
Published: 2017/04/04
Channel: Chris Plays Games
Do We Still Need Artificial Scarcity? #nobullshit - Star Citizen
Do We Still Need Artificial Scarcity? #nobullshit - Star Citizen
Published: 2017/10/28
Channel: TheNOOBIFIER1337
GTA Online - Artificial Scarcity [Hard Dificulty - Solo - Stealth]
GTA Online - Artificial Scarcity [Hard Dificulty - Solo - Stealth]
Published: 2017/01/31
Channel: Asteos
Grocery Prices Hiked Due To Drought And Artificial Scarcity
Grocery Prices Hiked Due To Drought And Artificial Scarcity
Published: 2017/08/19
Channel: Public TV | ಪಬ್ಲಿಕ್ ಟಿವಿ
TBC - Scarcity is Artificial; Come Live a Life of Abundance.
TBC - Scarcity is Artificial; Come Live a Life of Abundance.
Published: 2016/07/19
Channel: MELLOW GOLD
Dr. Jerome Corsi: Soros & Obama Creating Artificial Scarcity in Oil, Coal and The NAU Today 2/2
Dr. Jerome Corsi: Soros & Obama Creating Artificial Scarcity in Oil, Coal and The NAU Today 2/2
Published: 2011/03/09
Channel: The Alex Jones Channel
(GTA 5 Online) Artificial Scarcity Solo (Hard Difficulty )
(GTA 5 Online) Artificial Scarcity Solo (Hard Difficulty )
Published: 2016/04/15
Channel: Gaming Psychosis 420
Artificial Scarcity and 10 Cent Photos
Artificial Scarcity and 10 Cent Photos
Published: 2017/06/03
Channel: Daily Rant Australia
Dr. Jerome Corsi: Soros & Obama Creating Artificial Scarcity in Oil, Coal and The NAU Today 1/2
Dr. Jerome Corsi: Soros & Obama Creating Artificial Scarcity in Oil, Coal and The NAU Today 1/2
Published: 2011/03/09
Channel: The Alex Jones Channel
Artificial Scarcity
Artificial Scarcity
Published: 2008/12/18
Channel: LiteralWord
The "Artificial Scarcity & Demand" for the Nintendo Switch
The "Artificial Scarcity & Demand" for the Nintendo Switch
Published: 2017/04/22
Channel: Xiphos Gaming
Artificial Scarcity - GTA V Online (PC)
Artificial Scarcity - GTA V Online (PC)
Published: 2015/07/13
Channel: Zero Period Productions
GTA 5 MISSION UNPOSSIBLE - Artificial Scarcity
GTA 5 MISSION UNPOSSIBLE - Artificial Scarcity
Published: 2017/06/28
Channel: Toasted Baby
Residents Jostle For Fuel As Artificial Scarcity Hits Ekiti
Residents Jostle For Fuel As Artificial Scarcity Hits Ekiti
Published: 2015/02/27
Channel: Channels Television
Economics made easy: Artificial scarcity.
Economics made easy: Artificial scarcity.
Published: 2012/02/22
Channel: AussieGriffin
GTA 5 Online - The High Life - Artificial Scarcity, Crime Scenester, And Denial Of Service
GTA 5 Online - The High Life - Artificial Scarcity, Crime Scenester, And Denial Of Service
Published: 2014/05/17
Channel: Makinofaman29
How Nipsey Hussle and the Wu-Tang Clan use Artificial Scarcity to Sell Albums
How Nipsey Hussle and the Wu-Tang Clan use Artificial Scarcity to Sell Albums
Published: 2015/07/24
Channel: the Urban Coin
GTA 5 - Artificial Scarcity Solo
GTA 5 - Artificial Scarcity Solo
Published: 2017/01/22
Channel: Funky Plays
RPG Pondering: Artificial Scarcity
RPG Pondering: Artificial Scarcity
Published: 2016/05/14
Channel: tetsubo57
GTA V Online - First Person Mission #3 - Artificial Scarcity | Zelkiroth
GTA V Online - First Person Mission #3 - Artificial Scarcity | Zelkiroth
Published: 2018/03/28
Channel: Zelkiroth
GTA Mission #3| Artificial Scarcity
GTA Mission #3| Artificial Scarcity
Published: 2018/07/19
Channel: Quantomn Unknown
Artificial Scarcity
Artificial Scarcity
Published: 2011/11/30
Channel: Pelle Ezekiel Esbensen
Overstanding Artificial Scarcity: MOG VLOG #3 (HD)
Overstanding Artificial Scarcity: MOG VLOG #3 (HD)
Published: 2013/04/08
Channel: Max Mogren
GTA 5 Online Mission - Meth
GTA 5 Online Mission - Meth'd Up & Artificial Scarcity || GTA HINDI
Published: 2018/05/24
Channel: RaoGamer
Content as a Service: Artificial Scarcity and the Post-Ownership Economy
Content as a Service: Artificial Scarcity and the Post-Ownership Economy
Published: 2013/12/28
Channel: David Thomas
Planned Obsolescence, Artificial Scarcity and Consumerism
Planned Obsolescence, Artificial Scarcity and Consumerism
Published: 2014/09/21
Channel: Jonathan Lippe
GTA Online Mission Solo Play (Hard) - Artificial Scarcity
GTA Online Mission Solo Play (Hard) - Artificial Scarcity
Published: 2014/07/31
Channel: 호창HoChang
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WIKIPEDIA ARTICLE

From Wikipedia, the free encyclopedia
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Artificial scarcity describes the scarcity of items even though either the technology and production, or sharing capacity exists to create a theoretically limitless abundance, as well as the use of laws to create scarcity where otherwise there wouldn't be. The most common causes are monopoly pricing structures, such as those enabled by laws that restrict competition or by high fixed costs in a particular marketplace. The inefficiency associated with artificial scarcity is formally known as a deadweight loss.

Background[edit]

A production–possibility frontier showing trade-offs.

In a capitalist system, an enterprise is judged to be successful and efficient if it is profitable. To obtain maximum profits, producers may be restricting production rather than ensuring the maximum utilisation of resources. This strategy of restricting production by firms in order to obtain profits in a capitalist system or mixed economy is known as creating artificial scarcity.[1]

Artificial scarcity essentially describes situations where the producers or owners of a good restrict its availability to others beyond what is strictly necessary. Ideas and information are prime examples of unnecessarily scarce products given artificial scarcity, as illustrated in the following quote:

If you have an apple, and I have an apple, and we exchange apples, then you and I will still each have one apple. But if you have an idea, and I have an idea, and we exchange these ideas, then each of us will have two ideas.

— Phi Kappa Phi Journal[2]

Even though ideas, as illustrated above, can be shared with less constraints than physical goods, they are often treated as unique, scarce, inventions or creative works, and thus allotted protection as intellectual properties in order to allow the original authors to potentially profit from their own work.[original research?]

Economic actions that create artificial scarcity[edit]

Arguments for and against[edit]

For[edit]

Artificial scarcity is said to be necessary to promote the development of goods. In the example of digital information, it may be free to copy information ad infinitum, but it requires a significant investment to develop the information in the first place. In the example of the pharmaceutical industry, production of drugs is fairly cheap to execute on a large scale, but new drugs are very expensive. This is because the initial investment to develop a drug is generally billions of dollars. Typically, drug companies have profit margins much higher than this initial investment, but the high payoff also attracts many companies to compete, increasing the pace of drug development. A feature of many economies is also time limit in patent rights; after a set number of years enjoying an artificial scarcity, the patent wears off and cheap generic versions of a product enter the market. Thus, the drug developer gets a return on investment, and other companies subsequently compete to lower prices.[citation needed]

Against[edit]

Right wing[edit]

Some classical liberals and libertarians oppose artificial scarcity, on the grounds that their lack of physical scarcity means they are not subject to the same rationale behind material forms of private property, and that most instances of artificial scarcity, such as intellectual property, are creations of the state that limit the rights of the individual.[4][5]

An economic liberal argument against artificial scarcity is that, in the absence of artificial scarcity, businesses and individuals would create tools based on their own need (demand). For example, if a business had a strong need for a voice recognition program, they would pay to have the program developed to suit their needs. The business would profit not on the program, but on the resulting boost in efficiency enabled by the program. The subsequent abundance of the program would lower operating costs for the developer as well as other businesses using the new program. Lower costs for businesses result in lower prices in the competitive free market. Lower prices from suppliers would also raise profits for the original developer. In abundance, businesses would continue to pay to improve the program to best suit their own needs, and increase profits. Over time, the original business makes a return on investment, and the final consumer has access to a program that suits their needs better than any one program developer can predict. This is the common rationale behind open-source software.[citation needed]

Left wing[edit]

Social liberals, socialists, and anarchists argue that artificial scarcity is beneficial for the owner, but unfavourable towards the consumer, as it enables the owner to capitalise off ideas and products that are otherwise not property in the physical sense.

Socialists extend their argument to include "socially wasteful production" such as the production of goods which are seen as "status" goods (e.g., diamonds or expensive cars). This sort of production leads to a situation of artificial scarcity of socially useful goods because a large part of society's resources are being diverted to the production of these goods. For example, capitalism has led to the growth of money-based activities like banking-retailing services, remedial measures to deal with trade union issues, and other such activities to protect capitalism, such as weapons research and the development of security firms; socialists argue that the allocation of resources to these activities is not socially useful.[1]

Some socialists argue that not only artificial scarcity but even the doctrine of scarcity itself is a creation of the capitalist system, because any kind of property was considered a burden for the nomadic lifestyle when civilisation was in the hunter-gatherer stage.[1] Along with some free-market libertarians and anarchists, they will argue for sharing economies and post-scarcity economics, both questioning the scarcity of physical and intellectual goods as currently imposed by artificial cultural, bureaucratic, or economic constraints.

See also[edit]

References[edit]

  1. ^ a b c http://www.worldsocialism.org/spgb/apr98/scarcity.html Artificial scarcity
  2. ^ Phi Kappa Phi (1952). Phi Kappa Phi journal. 32–34. Honor Society of Phi Kappa Phi. p. 45. 
  3. ^ Sullivan, John L. (20 June 2016). "Software and Artificial Scarcity in Digital Media". The Political Economy of Communication. Retrieved 3 May 2017. 
  4. ^ Tucker, Jeffrey; Mossoff, Adam. "Intellectual Property Rights". Foundation for Economic Education. Retrieved 2016-09-25. 
  5. ^ Palmer, Tom G. (1990). "Are Patents and Copyrights Morally Justified? The Philosophy of Property Rights and Ideal Objects" (PDF). Harvard Journal of Law and Public Policy. 13 (3). 

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