Scarcity is global effects

[el kaka22]

If you end up with scarcity and that allows some people to get richer, the world will let it happen. All those tesla cars that made Elon rich? Uses a resource (forgot the minerals name, lithium? whatever it was) that will run out, and uses slave labour back where it is to dig it out as well, but he gets away with it because he uses a company to buy it from, and not directly owns any slaves, even the company he buys from doesn't, the local company does, and the AI that he is building? Along with all other AI?

Wastes 2% as much as rest of the world, so just one AI industry and we are spending 2% more. Hence on the long run, all these rich people are fine if the world is gone and destroyed because of them in 50 years, because they know they will be gone in 50 years.

[Crypto_Timothy]

Government needs to increase their capacity to create surplus and available resources to match their scarces effects on people and cost of living.

Scarcity is indeed everywhere but its severity differs from one country to another depending on some factors like the governance, the economic policies and the productivity and resource management as well, so while alot of countries are facing rising living costs due to global inflation and economic uncertainty, some have stronger institutions and social support systems that reduce the impact on their citizens, so depending on the country the scarcity defers. The government definitely plays a crucial role in addressing scarcity by promoting economic growth, creating jobs, investing in infrastructure and also implementing policies that make essential goods and services more affordable and well, although scarcity cannot be completely eliminated, its effects can be significantly reduced through effective leadership and sustainable development, at least thats how i see it.

[Ambatman]

Resources we are can access are quite limited hence the existence of economics.
And it's worse when the resource is there but it's poorly utilized.
Which is something most African nations are facing
Other countries are finding means to access more source to our limited resources
But they are more focused on hoarding the ones around.

[ColdLava40]

Government needs to increase their capacity to create surplus and available resources to match their scarces effects on people and cost of living.

The main problem with African countries is bad government. There's a bunch of good resources in Africa but with bad governance those resources cannot be use to develop their economy.

The government do not care much if their actions cause pain or infliction on the people. They want to feed their mouth so it's not their business how others do it. The inflation, and high cost of living in these countries could be avoided if trades properly.

But will the government be able to? It's not even a matter of scarcity. We have some countries with limited resources but are doing well and advanced. African leaders have failed their people.

[Ndabagi01]

Scarcity is when there is limited supply and the demand is high, it is something that is really affecting economic situation of every country, if there is scarcity in a place, the price of the goods that is scarce will be very high due to the limited supply and high demand.

Scarcity I think is more of a deliberate act by the government, or big players in the economy that are selfish minded. They make goods scarce in such a way that a price they tag a product with is what it would be sold at. The people rush to buy them irrespective of the price because of their high want for it.

Yes exactly, but having surplus can lead to vandalism in my opinion, even though if there is a good supply from different firms, the price will be cheaper due to competition, while if it is available in excess, the price will drop drastically. The government actually need to find way to make goods available to ease price control for their citizens.

Government will always find a way to balance things up. Too much supply in excess can lead to other things that could even make living unbearable more to everyone irrespective of your financial status. Things needs to be leveled but not in such a way that relevancy is giving to one part that it comes in excess and other part has nothing to show for it.

[bitgolden]

Scarcity can be intentionally engineered in a corrupt government, and the reason is because they profit from it.

We could have government officials who hold a majority in certain sectors in the economy, and they know that creating scarcity would improve their profit margin, and in corrupt systems where there is no other body to checkmate these corrupt moves, scarcity would thrive and be the order of the day.

That's not even the only reason, they can literally keep people very poor and in trouble, so that they can promise they can be the ones who can save them. So they do not actually have to do good, they just have to keep making sure people stay bad, and then, their buddies, the other party, may take power, and blame each other, in turns.

That's what's going on even in a not poor country like USA, all those democrats and republicans are friends, and one takes power, blames the other, then the other takes power and blames the other and they keep in cycles that way.

[passwordnow]

That is a problem that a country which is rich in natural resources and then they've allowed foreign investors and businessmen to come to them. The necessity for these investors to get their natural resources will rotate to their business and it comes with a hefty fee. The profit is high from these and yet, it is the people that suffers from that innovation and business deals. There's little to no return to the locals who are near in the exploited area that's being dug for their natural resources. Like now, the EVs are becoming more and the materials need to create battery is important through mining the components of it in vast lands.