The Scarcity Shortage

Economics has been described as the study of scarcity. Ever since people started making and bartering goods and services, the fundamental assumption has been that everything, from raw materials to labor, is scarce.

Successful businesses tend to ask, "What Is Scarce?" "What can I provide that people need and don't have enough of?"Often a very local or very targeted answer, e.g. "Dry cleaners are scarce in my rapidly developing part of town" can lead to a profitable small business.

At the other end of the scale, massive opportunities arise for those who can answer the question, "What is scarce not just in my part of town but globally?" As production efficiencies have made manufactured goods more commonly available than ever, good answers to that question themselves become scarce. There appears to be a scarcity shortage.

But scarcity will always be with us. Right now, in 2010, there is something that is desperately needed, massively in demand on a global scale, and very very scarce.   

The common belief is that this item is scarce because it cannot be produced in sufficient quantity. Like gold or diamonds, its availability is very limited. It is simply not available.

We know, however, that this scarce item is actually quite produceable. Take a moment to read about that which is scarce, and how you can have a role in the production and marketing of this scarce commodity.