Sharonomics: The Economics Of 21st Century

The world has moved from the economy of scarcity to the 21st century economy of abundance, but the fabric of economics has not changed. It’s time we adapted to the change.

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The dynamics of 21st century economics are distinctly different from previous centuries, moving from scarcity to abundance. Animation: Sharonomics

“the needs far outweigh haves.”

That may well have been the foundational principle of conventional economics, but we look at the world GDP over the last two millennia, and we see a sharp transition from scarcity to abundance as we embark into the 21st century. Therefore, 21st century economics has to go beyond Adam Smith’s “laissez-faire,” Keynesiam “welfare capitalism” and Robbins’ “scarce means”.

The 21st century economics indeed is no more about scarce resources. The issue is one of harvesting the resources, monetizing the resources, creating liquidity of the assets and redistributing them.

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