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Theorizing Scarcity

Author

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  • Costas Panayotakis

    (New York City College of Technology – City University of New York, Brooklyn, NY, USA)

Abstract

This article critically examines the neoclassical approach to scarcity as well as critiques of neoclassical economics that focus either on the formation of people’s wants (the demand side of scarcity) or on the production and distribution of the goods needed to satisfy these wants (the supply side). I argue that critiques of the neoclassical approach are right to emphasize the relationship between the determinants of scarcity and the economic system as a whole but are less convincing when they project the possibility of overcoming neoclassical scarcity altogether.JEL Codes: A10, P10, Z13

Suggested Citation

  • Costas Panayotakis, 2013. "Theorizing Scarcity," Review of Radical Political Economics, Union for Radical Political Economics, vol. 45(2), pages 183-200, June.
    • Handle: RePEc:sae:reorpe:v:45:y:2013:i:2:p:183-200
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    More about this item

    Keywords

    scarcity and abundance; neoclassical economics; capitalism; hunting and gathering societies; conspicuous consumption;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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