Scarcity

We live were living in an age of abundance. You could get almost anything in almost unlimited quantities if you had the money or could borrow it. What a difference a couple years can make.

Any of our grandchildren who remember what it was like will tell their grandchildren about it and will not be believed. They will probably be hoarders, they will live among other hoarders. There will likely be chronic shortages, deprivations.

We thought automation and AI would not only maintain that abundance but reduce cost so that everyone could have more. Serious deflation and unemployment were the fear.

It could be that this is just a blip and supply chains will recover. Abundance will return but I doubt we will take if for granted then. We will still have water shortages, storms, power infrastructure failures, and wild fires. Depending on the climate, we could have crop failures.

One scarcity that I think is coming is a shortage of professional services. Skills that require education, training and experience. Even if they don’t pass Medicare for all or single payer healthcare doctors and nurses will be in short supply. Maybe plumbers and electricians too. If some sort of infrastructure program gets funded, who will do the work?

TEK