[p2p-research] Artificial Scarcity Is Subject To Massive Deflation | Techdirt

Ryan Lanham rlanham1963 at gmail.com
Fri Nov 6 00:48:17 CET 2009

On Thu, Nov 5, 2009 at 5:58 PM, Paul D. Fernhout <
pdfernhout at kurtz-fernhout.com> wrote:

>  The way I thought this would work has been tied to technology
>> acceleration.
>> I've always wondered...what happens when you build the best possible
>> diesel
>> locomotive and then start finding ways to make it cheaper and cheaper.  In
>> a
>> sense, the IP can go on for a while, but the relative value of the IP is
>> the
>> question.  The marginal value (utility) of IP is clearly falling as
>> technology accelerates.
> Value to whom? Maybe not to the user? Maybe only to the rent seeker?
> If there was a basic income, would so many people be driven to rent
> seeking?

Maybe this is the crux.  In classical economic terms, abundance theorists
are suggesting a much harsher definition (and presumably a strong sanction
against) rent seeking.

In capitalism, rent seeking is often prohibited but often allowed.  Post
abundance people seem to want to either make it irrelevant (weak abundance
theorists) or make it proscribed (strong abundance theorists).

Rent seeking is not profit seeking, of course.

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