Part highlights three potential allocation principles for scarce goods
In other words, creation is not the basis for property rights in scarce goods
. Creating something does not make you its owner.
But at the same time, the law of diminishing marginal utility is a purely economic law which describes the character of the subject's attitude towards scarce goods
. The law of increasing marginal costs is explained by purely technological laws which are caused by violation of proportions between the fixed and variable resources.
The issue is not which system will award scarce goods
to those who value them the most but which will coordinate behavior better in which situations.
Mr Gono said with bigger bills businesses might be tempted to again raise prices of scarce goods
The role of companies is to create value by using scarce goods
in an effective and efficient manner to produce goods and services.
After stating that economics is the study of the utilization of scarce resources, Sowell immediately turns to a discussion of how prices in a free market economy provide signals to both suppliers and consumers of scarce goods
Several of these resources have a finite supply and even those that are renewable cannot function with an unlimited amount of disturbance, so they are all scarce goods
. The rights to use these resources are similarly scarce goods
True abundance is never realized by the competition of insatiable desires for scarce goods
. It is realized by emptying the small self into the larger reality of God's superabundant life.
His own sense of the work was informed by his memory of lines in front of Slovak shops during the Communist era, when passersby, lured by the promise of scarce goods
, would eagerly wait, mindless of the reward.
Ink and airtime were scarce goods
and so owners put a little here, a little there, trying to give all sides at least a chance for exposure to the mass audience.
Not really: management aims at monitoring and sustaining the non-human for its use-value to humans; it places all questions of the non-human within the framework of a historically specific economic organization used to distribute scarce goods
. As Gifford Pinchot [1987: 325] rather coldly observed, "There are just two things on this material earth -- people and natural resources." One thing modernity has done is make it increasingly hard to imagine the "not-people" part of the world as anything but resources -- fungible, tradable, liquid.
The efforts took two approaches: denying scarce goods
to producers of non-essential items, and encouraging producers to convert to the manufacture of goods essential to the war effort.
His nuanced and illuminating treatment of the concepts of desert and merit present very welcome alternatives to the usual poverty of arguments that aspire to attack or defend controversial policies for the fair allocation of scarce goods
, from medical care to college admissions, through affirmative action, quotas, or even lottery.
Gifts given out of God's plenty take the place of trade-offs among scarce goods
in the life we share with him.