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The Fundamental Problem

In: Economics for Environmental Studies

Author

Listed:
  • Alfred Endres

    (University of Hagen)

  • Volker Radke

    (State University Ravensburg)

Abstract

The satisfaction of human needs constitutes the primary goal acknowledged in mainstream economics. In order to explore the nature of human needs, Maslow’s hierarchy of needs is discussed. Human needs are observed to be principally without constraint. A “good” is defined with regard to its ability to satisfy a human need. Within the set of goods, commodities are distinguished from services. A classification of goods according to the criteria of excludability from use and rivalry in use is presented. Production is identified as the most important approach to make goods available. The main problem that forms the point of departure of economic thinking is described as the tension between the boundlessness of human needs, on the one hand, and the limited availability of the means to satisfy those needs, on the other. This phenomenon is called “scarcity”.

Suggested Citation

  • Alfred Endres & Volker Radke, 2012. "The Fundamental Problem," Springer Texts in Business and Economics, in: Economics for Environmental Studies, edition 127, chapter 2, pages 9-16, Springer.
    • Handle: RePEc:spr:sptchp:978-3-642-31193-2_2
    DOI: 10.1007/978-3-642-31193-2_2
    as

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