What Is Economic Scarcity - Essay Example

ECONOMIC SCARCITY
When economic scarcity arises, the resources get limited and it becomes all the more important to distribute these resources wisely in order to make the most out of them. On this island, people are not aware of the dangers of scarcity because they have never seen any scarcity in economic terms. Resources are abundant and sufficient for the existing population. However, with new inventions and discoveries, scarcities are likely. How so?
When a new invention comes, the old becomes obsolete and loses its value. People start demanding new stuff and if are not producing it, you are very likely near extinction. For example when computers came in and became a household name, if any person is still computer illiterate, won’t he or she find that getting a job has become close to impossible?
In the same way, if a country has been producing things with old technology for a long time and there comes a new technology that not only creates efficiency but also gives better results, don’t you think people will demand the products made by new technology? Then a producer using older technology will go out of demand and his products will become obsolete. This is how scarcity appears as and when a new discovery or invention is made. But it is important that the new technology be very significant and life-changing.
On the island, they have found that a new invention is likely to revolutionize the way things are done on the island. The problem is should this invention be adopted? If yes, then how should this be accomplished?
There are a few important things to remember here:
1. People on the island are not generally aware of this technology
2. They are not trained to use or adopt it
3. And they do not know of the benefits of its use.
Keeping these points in mind, the council must create a plan that would address the key issues knowing that this technology has to be adopted. In order to reduce resistance and make people more open to the acceptance and adoption of this technology, it is critical that they are made aware of the benefits of this technology.
When computers came, they were not adopted by everyone in a single day but people came to embrace this new technology as and when they learned of its varied benefits. Now we cannot even imagine a life without computers.
The planetary council must therefore create awareness about the new technology and explain to its people how this technology will change their lives. It is also important that people recognize the dangers of extinction as the colonization ends. People should be explained the horrors of scarcity and the dangers they might face after fifteen years as they are forced to interact with the larger world. If they are not aware of the new technologies and have not adopted them, they will have to face serious challenges and they will be lost in the jungle of the bigger world.
In this regard, we must give the example of South Africa during the apartheid. This was a time between 1984 and 1994 when South Africa had been basically living in isolation. Their sports teams were not allowed to participate in international events and they were cut off from the world. But instead of wasting their time being complacent, they decided to improve themselves in every field. Their cricket team which had never played with the international teams kept training very hard and when in 1992 they were allowed to participate in the cricket world cup for the very first time in decades, they were as prepared as anyone else. In that first international event, they made it to the semi-final which was certainly no mean feat by any standard.
Thus it is important to adopt technology gradually with education and awareness. This will help the people on the island be more prepared to face the world when doors open. And in 15 years' time, they will still have enough resources to thwart any threat of scarcity. Read More

 

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