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If capitalism and markets are responses to man's need to survive in a world where scarcity exist then wouldn't the eradication of scarcity via technology absolve men from economics in general? I believe this is why utopians and futurist would sacrifice everything for technology so how (or are) they wrong?

asked Aug 25 '12 at 23:50

TheBucket's gravatar image

TheBucket
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edited Aug 26 '12 at 10:21

Greg%20Perkins's gravatar image

Greg Perkins ♦♦
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Are you referring to scarcity of natural resources only? (because markets certainly don't exist just for natural resources) If not, could you elaborate somewhat?

(Aug 26 '12 at 11:52) orb85750 orb85750's gravatar image

To my knowledge, utopians and futurists usually see no connection between market capitalism and technology. They seem to think technology "just happens," somehow (or they deliberately blank out all questions about what makes technology possible). They also do not comprehend that technology is very perishable, and declines rapidly when freedom of production and trade is crushed.

(Aug 26 '12 at 12:26) Ideas for Life ♦ Ideas%20for%20Life's gravatar image

Would it not be more accurate to say that scarcity is eradicated by freedom for it is freedom that gives us capitalism and capitalism that gives us technology. Removing the human mind and free will from the discussion can only lead to errors in thinking.

(Aug 26 '12 at 12:37) garret seinen garret%20seinen's gravatar image
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The answer to your question is discovering the false premise which you stated: "Capitalism and markets are responses to man's need to survive in a world where scarcity exists".

Capitalism and markets are not responses to scarcity. They are responses to the requirements of man's life. That is to say, men survive by the process of reason, and therefore the freedom to act on one's reason is a requirement of man's life. Capitalism is the only socioeconomic system that allows man that freedom, and therefore it is the only moral system.

It just so happens that one happy side-effect of a moral system such as capitalism, is that practical problems such as scarcity are also minimized. The technology and social interactions that accomplish this are a result of capitalism and freedom. As Rand would say, the moral course is the practical course.

answered Aug 26 '12 at 14:07

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Raman ♦
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edited Aug 26 '12 at 14:13

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Asked: Aug 25 '12 at 23:50

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Last updated: Aug 26 '12 at 14:13