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RE: Planned Obsolescence?

in #economics6 years ago

Markets will persist for the foreseeable future, and resource scarcity continue to necessitate trade. Resource scarcity will eventually become incompetent to affect production - but eventually is a broad term. We're not gonna see personally owned automated asteroid mining for some time, and such mechanisms are the only obvious means to eliminate resource bottlenecks.

I think it was Neal Stephenson that described a communal resource sharing mechanism in 'The Diamond Age' that might accelerate the end of resource scarcity to a large degree, but even that wouldn't preclude rockhopping robots hunting down rare Earth metals and the like.

I reckon you're quite right that in the meantime, resource scarcity will drive specialization and interindustrial trade, as that potentiates greater profit and market share, even desirable state of monopoly.