What would an economy based in resources and abundance be like as oppose to the current collapsing economy which is based in debt and limited supply?



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    Given that the shortened definition of economics is “the study of scarcity,” there simply would not be an economy to study at all if we lived in a world without scarcity. People would simply take what they needed from trees and make art just for fun. There would be no need to have a currency of any kind because of the abundance of resources. However, it is difficult to imagine maintaining this situation for long unless the earth had an unlimited carrying capacity.

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