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The Moral and Social Problem of Scarcity

In: Rediscovering Social Economics

Author

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  • Roger D. Johnson

Abstract

Nineteenth-century Austrian economist Carl Menger and modern sociologist Abraham Maslow provided complementary explanations of how needs serve as the basis for understanding the problem of scarcity. Neoclassical economists attempted to avoid the normative implications of need-based behavior by focusing upon the process of market exchange. The pedagogy of opportunity cost analysis used to explain the basis for market exchanges can also be used, however, to illustrate the ignored aspects of need-based behavior and the benefits of cooperation.

Suggested Citation

  • Roger D. Johnson, 2017. "The Moral and Social Problem of Scarcity," Perspectives from Social Economics, in: Rediscovering Social Economics, chapter 0, pages 31-40, Palgrave Macmillan.
    • Handle: RePEc:pal:pfschp:978-3-319-51265-5_3
    DOI: 10.1007/978-3-319-51265-5_3
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    Cited by:

    1. Panagiotis E. Petrakis & Anna-Maria Kanzola, 2022. "On the Micro-Foundations of Creative Economy: Life Satisfaction and Social Identity," Sustainability, MDPI, vol. 14(9), pages 1-17, April.

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