The process of receiving and using information is the process of our living effectively within that environment.
--Norbert Wiener


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The central problem of economics is the concept of scarcity. There is not enough ___ for everyone. The blank could be anything. Water, good looks, knowledge etc. This being the case, people make decisions on how to allocate resources. This begins at an individual level, and is characterized by free markets, trading, and unequal results, since people are inherently different from each other and start with different assets. Productivity ramps up as people apply their unequal talents and resources towards the creation of wealth (value, utility). After a while larger organizations may begin to manipulate this process, promising an end to scarcity.

Governments say they want to redistribute the pie of wealth, that wealth is a fixed amount. The classic economic libertarian argument is that government control of economics leads to more scarcity, disincentive to produce, weakness and reliance on government, and ultimately mass starvation. The reality is that centralization of control, whether governmental or corporate, creates inefficiencies and corruption, as does the lack of any limits on the abuse of non-monetized elements, such as the use of force or destruction of the environment.

game theory, bionomics

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