Economic theory is based on the assumption of scarcity – why is that? Aren’t we, collectively, always creating and printing more money? It’s not a limited resource, so why do we use it like it is?
We can’t run out of it. It’s not clean water. Or pandas. We make it, and we can always make more of it. So why should we believe and act like it’s going to run out?
I make a conscious choice to live in a world of abundance, not scarcity. And that includes money.
In Paying What It’s Worth for the value you receive, you shift the traditional supply curve (based on scarcity) to one based on abundance. In not setting prices, you remove the false ceiling that’s been placed on your value, maximizing your return potential, and removing any self-imposed limits to it.
So why not forget that economy of scarcity story? Its plot is full of holes.
photo credit: Paul Nicholson