197. Principles of Economics: Interview with Jimmy Song
The Bitcoin Standard Podcast
The Real Scarcity is in the Scarcity of Human Time
In 50 years, our consumption of resources has increased significantly, yet the price of oil has gone down and the proven reserves continue to grow. The real scarcity is in human time, as there is no limit to the amount of resources we can have. However, it would be too time-consuming and impractical to fully exploit even a fraction of what is available. So, the true challenge lies in managing our time efficiently rather than worrying about resource scarcity.
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