Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Resource scarcity is not a necessity

05.04.2011
Economic theory assumes resource scarcity as an important premise, and there is a general consensus that scarce resources are best allocated by means of a market.
However, a new doctoral thesis from the University of Gothenburg, Sweden, shows that there may be alternative solutions to the allocation problem.

Economic theory generally assumes that there will never be enough food, water, cars, money etc. to satisfy people’s wants.

This means that inequalities, conflict and poverty are inevitable parts of society. Many economists feel that scarcity is best dealt with through the presence of a market – the highest bidders gain access to a society’s scarce resources.

Yet, economic sociologists do not necessarily see resource scarcity as inevitable, and neither do they always agree with the mainstream solution to the economic problem. There are indeed enough resources, they might argue, but people are for various reasons denied access. For example, there is enough food in the world, but people are still starving. Why is that?

’The market as an allocation mechanism has not been able to distribute food to everyone – every sixth person in the world does not have access to enough food,’ says Adel Daoud, author of the thesis.

So, do we need the market?
’Maybe we do, given the present economic system, but we should at the same time ask ourselves whether any alternative allocation models could help us manage the world’s resources better, not least considering the climate threat. A so-called economic democracy could be one such solution. In an economic democracy, citizens get to have a say about what and how much of various products and services should be produced,’ says Daoud.

One of the main contributions of the thesis is to show the importance of using alternative perspectives, such as economic sociology, to deal with the notion of resource scarcity rather than simply seeing scarcity as inevitable.

For more information, please contact:
Adel Daoud, telephone: +46 (0)31 786 4763, 070-437 1663, e-mail: adel.daoud@sociology.gu.se

Helena Aaberg | idw
Further information:
http://www.gu.se

More articles from Business and Finance:

nachricht Preferential trade agreements enhance global trade at the expense of its resilience
17.02.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht How Strong Brands Translate into Money
15.11.2016 | Kühne Logistics University - Wissenschaftliche Hochschule für Logistik und Unternehmensführung

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Breakthrough with a chain of gold atoms

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

Im Focus: DNA repair: a new letter in the cell alphabet

Results reveal how discoveries may be hidden in scientific “blind spots”

Cells need to repair damaged DNA in our genes to prevent the development of cancer and other diseases. Our cells therefore activate and send “repair-proteins”...

Im Focus: Dresdner scientists print tomorrow’s world

The Fraunhofer IWS Dresden and Technische Universität Dresden inaugurated their jointly operated Center for Additive Manufacturing Dresden (AMCD) with a festive ceremony on February 7, 2017. Scientists from various disciplines perform research on materials, additive manufacturing processes and innovative technologies, which build up components in a layer by layer process. This technology opens up new horizons for component design and combinations of functions. For example during fabrication, electrical conductors and sensors are already able to be additively manufactured into components. They provide information about stress conditions of a product during operation.

The 3D-printing technology, or additive manufacturing as it is often called, has long made the step out of scientific research laboratories into industrial...

Im Focus: Mimicking nature's cellular architectures via 3-D printing

Research offers new level of control over the structure of 3-D printed materials

Nature does amazing things with limited design materials. Grass, for example, can support its own weight, resist strong wind loads, and recover after being...

Im Focus: Three Magnetic States for Each Hole

Nanometer-scale magnetic perforated grids could create new possibilities for computing. Together with international colleagues, scientists from the Helmholtz Zentrum Dresden-Rossendorf (HZDR) have shown how a cobalt grid can be reliably programmed at room temperature. In addition they discovered that for every hole ("antidot") three magnetic states can be configured. The results have been published in the journal "Scientific Reports".

Physicist Dr. Rantej Bali from the HZDR, together with scientists from Singapore and Australia, designed a special grid structure in a thin layer of cobalt in...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Booth and panel discussion – The Lindau Nobel Laureate Meetings at the AAAS 2017 Annual Meeting

13.02.2017 | Event News

Complex Loading versus Hidden Reserves

10.02.2017 | Event News

International Conference on Crystal Growth in Freiburg

09.02.2017 | Event News

 
Latest News

From rocks in Colorado, evidence of a 'chaotic solar system'

23.02.2017 | Physics and Astronomy

'Quartz' crystals at the Earth's core power its magnetic field

23.02.2017 | Earth Sciences

Antimicrobial substances identified in Komodo dragon blood

23.02.2017 | Life Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>