The Scarcity reference article from the Simple Wikipedia on 01-May-2004 (provided by Fixed Reference: snapshots of Wikipedia from wikipedia.org)

Scarcity

Scarcity in economics is used to describe the lack of various forms of capital.

In modern times scarcity is both a real and a constructed problem.

Real scarcity exists due to the effects of nature such as drought, floods, storms, pest infestation, fire and other things. These natural forces may destroy any one of the recognized forms of capital.

Real scarcity can also exist by over use of non-renewable resources. Examples include the destruction of Atlantic fisheries due to humans over fishing, and the declining fossil fuel reserves brought on by artificaly low prices.

Constructed scarcity is a manipulative technique used by global investors and politicians to prop up certian prices, markets or regimes. It can be observed in the global food markets. There is enough food produced on this planet to feed all of the human inhabitants living here, but food rots while children starve, so that the income of food processors and brokers can remain high.

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