Abundance Economy

Definition

Today, most economic systems were based on the principle of scarcity: things are more valuable because they are rare or controlled. Scarcity is often an artificially created condition designed to maximize profits for those in control. An abundance economy is based on the idea that we are surrounded by everything we need to not only subsist, but to have a high quality of life. Access to information via the internet and the principles of open source have started to break down the controls imposed by a capitalist economic system.

Links and Analysis

Doug Muder is the author of "The Weekly Sift", a political blog. This week he discusses a book called "Why Marx Was Right" by Terry Eagleton. The book and Muder's comments are related to the development of an economy based on abundance. See: [1] - worth reading.