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Abundance is a situation where resources are sufficient, or more than sufficient, to satisfy human needs; whereas scarcity is a situation where resources are insufficient to meet human needs. It is because abundance is possible that socialism can be established.

In capitalist economics human wants are said to be unlimited, so that abundance is impossible. Economists infer that because wants exceed the poverty imposed by the wages system then scarcity and capitalism must always exist.


Although there are genuinely scarce goods and services, the Hope Diamond Wp→ springs to mind, most goods and services are "scarce" due to irrational distribution systems. In the case of digitized goods such as music, text, video, and images costs of production and distribution of the media itself approach zero. Fair compensation for the work done by the original creators, must, of course, be taken into account.