| HappySqurriel said: While there are finite resources, the real problem is that at any point in time we can not utilize these resources efficiently enough to satisfy the wants and needs of everyone. Over time we learn and develop, and the efficiency of our resource utilization increases, and we are better able to satisfy the wants and needs of more people; and previously unimaginable luxuries become in the reach of the typical individual. At any point in time, resources should be allocated in the way that encourages the greatest advancement in our ability to utilize resources because that will increase the standard of living of everyone by the greatest amount in the long run. |
How will you convince people who won't live long enough for the PPF curve to shift outwards? Economic theory in a classroom won't satisfy those who are in absolutely misserable conditions (I'm just playing the Devil's Advocate).
