🚗 🏡 🏖 Why Can't We Have Everything We Want? | Scarcity and Choice

Why can't we have everything we want? We have limitless goals, and scarce means. So we have to choose which needs are most urgent. Learn Austrian Economics in a fun way!
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Econ Clips is an economic blog. Our objetive is teaching economics through easy to watch animated films. We talk about variety of subjects such as economy, finance, money, investing, monetary systems, financial markets, financial institutions, cental banks and so on. With us You can learn how to acquire wealth and make good financial decisions. How to be better at managing your personal finance. How to avoid a Ponzi Scheme and other financial frauds or fall into a credit trap. If You want to know how the economy really works, how to understand and protect yourself from inflation or economic collapse - join us on econclips.com. Learn Austrian Economics in a fun way!

[@AdmiralYoshi]

That's what I'm talking about. Resources aren't unlimited, goods don't fall from the sky. Thus, we always need an evaluation of *cost*, we need an endless repetition of savings and distribution, which is the ultimate meaning of price system. Market mechanism isn't only about a balance between demand side and supply side, but also a balance between human's desire (what people wish to gain) and reality (what people ACTUALLY afford or deserve).

[@smilyle]

There is a false dilemma being presented between presented here where any particular resource is scarce but demand in general is being played out as infinite. We shouldn't conflate scarcity of particular resources with scarcity of all resources possible. Resources in a general sense are infinite or potentially infinite because we don't know all the resources we have available to us. That is what history shows

[@smilyle]

Also human needs aren't limitless, they are renewable. Human demand is infinite over infinite time but so are resources because all resources are renewable

[@Wilson84KS]

No, this is exactly what the market system is about, self-interest and competition, the other thing is economy and is the opposite of the market system, market system is about getting as much garbage sold as possible to use as much scarce resources as possible to make as much money, so virtual numbers on bank computers as possible, this is supply and demand. The opposite of this is an economy, needs and availability, production and distribution following needs assessments. That's why he needs to talk so much crap that doesn't have anything to do with reality, starting of with infinite human needs which is absolute bs, people have certain needs to certain times, most of them can be satisfied forever, like all the things we use, like a home, technology etc. only a few needs can't be satisfied at once, obviously this are goods that that are used up, like food and water, but there isn't much more.

[@ivanberdichevsky5679]

After a quick value judgement, I have decided to subscribe and ring that goddang bell. Great channel lads!

[@EconClips]

Thanks Ivan!

[@spicyyychicken]

Great channel with great content. I really learned a lot from your videos without getting bored. There is a great potential in your channel and I look forward to seeing more of your amazing content!

[@TBOOYY]

His narration skills are scarce

[@oleggeraschenko4932]

1. We live in abundance- there’s plenty for everyone to go around

[@Capsule__K]

Great content EconClips, keep going ! I wanted to know if u can make a video explaining shell companies and tax heavens. Thank you

[@marunio435]

You can really well explain such a thing like that. Keep make new videos!

[@aeneaschuma4467]

It is important to distinguish between "needs" and "wants". Needs are necessary for human survival such as food, water and shelter. Wants are socially contrived, based on what is currently fashionable such as a particular brand of cologne, etc. Wants are driven by advertising and marketing. It is "wants" that are unlimited.

[@EconClips]

good point

[@harishs4553]

Nice explanations. Keep doing this nice work

[@DanZaidan]

Another great video! Thanks!

[@rolesk8]

as always a great video 😁 thx for the hard work 👍👍👍👍

[@Chronos867]

so well explained and beautiful animations

[@ishitarawat9475]

What an amazing video. Thank you! 😄

[@ransom4734]

Maturit is what when you can differentiate between Need and Want's

[@siddharthchavan1224]

Great work

[@kevinrandalrulach]

When I see people begging in streets it makes me sad and make me wonder why our system is not built in such way that no man is left behind. Sad reason behind why it has to happen that way is this. But badly wish there will be a solution.

[@bennycardone6359]

What’s the name of the calm music in this video?

[@isaacarthur5171]

Its annoying but it is the truth!

[@GustavoSilva-ny8jc]

2:59 Stoics: TRIGGERED Crazy how this whole dilemma was realized 2000 years ago and their solution to this was: "just don't want those things!" Let's just say stoics would not have created Industrial Revolution and Capitalism and we still be closer to a State of Nature. I think actually for them, the more satisfied with this the better. For me it's certainly a double edge sword, i like a word where i don't have to worry about colera, child mortality over 50% and being mugged and this would not have happened if people were blase about a shitty reality, but too much ambition and pettines causes things like 08 bubble and wars.

[@Chapincitaruiz]

Me like it it is good video

[@gorkemvids4839]

When economy gone deep in the human physicology and philosofy

[@dovtuch7560]

What do you think about the venus project?

[@EconClips]

AFAIK it claims, that problem of scarcity is no longer a problem. Which is false.

[@Wilson84KS]

Sure it is false, within the monetary/market system, since it causes the artificial scarcity because it is the opposite of an economy and only cares about self-interest within a competitive system, human needs don't matter much aswell as it completely ignores the scarcity of resources, it sees the planet as an inventory which is there to be plundered for max profit, artificially made needs, marketing is what it is about, since only a few people have the money to consume almost limitless without even knowing the difference between needs and wants, everyone else just makes it to survive and everyone who doesn't have enough or no money at all stays invisible for the market system, since it doesn't care about needs and so you have to eat first before you get hungry in this absurd system, consumption causes demand, who doesn't consume, simply doesn't have needs in this system. But in fact we have the technology and resources to provide to every human needs, if we had an economy which is not the case, we use resources and produce goods for 34 trillion people while three billion are starving constantly and so all the overproduced goods fill the planet as garbage, overproduction to keep jobs to keep incomes to keep consumption to keep demand to keep jobs to keep incomes and so on, this is the market system, this is how it works, the absolute opposite of an economy, obviously.

[@davidhuynh3393]

There is always that spoiled friends/family members/classmates. 🆘💲😅

[@emsmozo4489]

I almost fall asleep oh please change the music, at least the content is great

[@fromallan]

Why can we just have everythinf free? And use natural resorces And help each other like food cant we just have food for free? And get rid of money we can just work for each other for freeb

[@Wilson84KS]

Because most stupid people are the loudest people because reductionist thinking and beliefs are simple, don't need knowledge nor intelligence and so give fast short answers. Like this guy here, understands nothing and telling bs which has absolutely nothing to do with the reality, but does it with the maximum convinced about the religious nonsense he tells.

[@imdebaws3715]

Are you 5?

[@pennieholmes8400]

i wish i had 50,000 dollrs

[@muskduh]

the resources of the cosmos are infinite. the only thing that's scarce is our lifespan/time

[@BestQBEver]

im bored so im watching this and i was forceed to