605. What Do People Do All Day?
Freakonomics Radio
Liberation from Scarcity: Rethinking the Need for Endless Growth
Scarcity economics has a powerful grip on societal values, driving an unsustainable focus on endless economic growth. The example of De Beers illustrates how artificial scarcity can create demand and shape desires. However, personal experiences reveal that desires can be limited and that the pursuit of material wealth is not always necessary. Once basic needs are met, individuals can prioritize job satisfaction over financial gain, suggesting a shift in values is possible. The current economic framework pressures everyone to contribute labor, often resulting in the creation of low-quality jobs rather than fulfilling roles. This raises a challenge to the notion that society must demand labor from everyone, indicating a need for deeper re-evaluation of work, fulfillment, and economic structures.
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