Alarmist claims to the contrary by environmentalists have
been convincingly debunked by the likes of Bjorn Lomborg, author of
"The Skeptical Environmentalist".
Equally, it is true that manufactured goods, agricultural produce,
money, and services are scarce. The number of industrialists, service
providers, or farmers is limited - as is their life span. The
quantities of raw materials, machinery and plant are constrained.
Contrary to classic economic teaching, human wants are limited - only
so many people exist at any given time and not all them desire
everything all the time. But, even so, the demand for man-made goods
and services far exceeds the supply.
Scarcity is the attribute of a "closed" economic universe. But it can
be alleviated either by increasing the supply of goods and services
(and human beings) - or by improving the efficiency of the allocation
of economic resources. Technology and innovation are supposed to
achieve the former - rational governance, free trade, and free markets
the latter.
The telegraph, the telephone, electricity, the train, the car, the
agricultural revolution, information technology and, now, biotechnology
have all increased our resources, seemingly ex nihilo.
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