08 July 2013

The hidden evil of unlimited wealth

The Good Captain has some insight as to why we really shouldn't have everything we want, on demand.

Therefore, in an ideal world (say like Star Trek where they have a replicator), resources would not be scarce, but limitless.  If you had unlimited oil or unlimited diamonds or unlimited chocolate, everybody's "wealth" would increase to a maximum level at minimal cost.  Standards of living would be unlimited and the only thing that would limit your life would be your mortality.  Ironically, in such a world, economists would be unemployed because there would be no need for them.

Of course, a scarceless, unlimited wealthy world is not feasible.  There is a limit to everything, not only including physical resources, but human time as well.  But there ARE instances of unlimited wealth and while economists may think that is the ideal situation or "goal" of economics, they  may want to rethink such an infinitely wealthy world. 

Understand there are instances of unlimited wealth.  I've seen it first hand.  And it was when one of the Saudi princes came to the Mayo Clinic.

RTWT.  There's serious wisdom here.

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