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Alternative economics





Wenlow
Economics is usually defined as the problem of how best to distribute limited resources, limited because wants are characterised as unlimited. In fact, as common sense tells us, rather than limited resources, there is an abundance of resources and this is the economic problem. The difference is only one of perspective. If wants are the focus, then of course resources are limited, but if needs or essentials are used as the foundation, then resources are seen to be abundant. The difference is between a description and an explanation. A focus on wants describes a free market situation; a focus on essentials allows an explanation to begin.

Any thoughts?
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