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The Moral and Social Problem of Scarcity

Roger D. Johnson

Chapter Chapter 3 in Rediscovering Social Economics, 2017, pp 31-40 from Palgrave Macmillan

Abstract: 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.

Keywords: Opportunity Cost; Private Good; Neoclassical Economist; Normative Concern; Superior Technique (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/978-3-319-51265-5_3

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