Scarcity Brings Value Quotes

Buicks and fresh petticoats marked a clear cultural change. Victory over the world of scarcity was a historical accomplishment of the first order, but they also realised that the domain of plenty would bring new problems, of a nature and extent at which they could only guess. It’s a classic tale of generational change. The first generation struggles up out of poverty, the second generation acquires wealth, the third generation becomes spoilt and goes off the rails. Yet something else was going on here as well, something that concerned the very foundations of society. In a culture of survival, people have little choice, whereas now there were alternatives, more and more of them. Almost all the traditional norms and values, which had their roots in a ‘world of necessity’,

I left the practice of law when it became clear that my autistic son needed an advocate. The collective chaos of managing three children, a fourth pregnancy, two nannies, a housekeeper, and a demanding career finally overwhelmed me. My husband and I considered hiring someone to manage our autistic son’s education and therapies, but I simply couldn’t delegate his care. I needed firsthand knowledge of his diagnosis and how to treat it. Leaving professional life was hard. I walked away from friends, a schedule, a salary, and social stature. I plunged into full-time parenting, something at which I was not proficient—something that still perplexes me! However, remaining in the workforce would have been harder. I made a free choice, fully apprised of the risk I took, and I have never looked back. Philosopher Ayn Rand believed there is no such thing as sacrifice. Rather, there are only rational decisions that bring us closer to our ultimate goals. In other words, the choices we make are irrefutable evidence of what we value. Even generous acts reflect a set of values. Living in accordance with those values gratifies us, hence our gain outweighs our loss. In a world of scarcity and competing demands, Rand’s view has a certain hard-nosed rationality. We give up something we want for something we want more. We each have a single life, made up of finite seconds that tick inexorably away. How we choose to spend each day both expresses our values and carries us closer to our ultimate goals, even if we have never articulated precisely what those values and goals are. I was fortunate that my decision to come home had a positive, even miraculous, outcome for my son. Others make similar decisions without such obvious payback. I still have professional aspirations, and I’m pursuing them wholeheartedly, but I will not return to the practice of law. My time at home focused my values and helped me understand what I want to do with my remaining days, months, and years.

But if wealth generated by such ‘rearrangements’ bewildered folk, the information-searching activities of tradesmen evoked truly great distrust. The transport involved in trade can usually be at least partly understood by the layman, at least after some patient explanation and argument, to be productive. For example, the view that trade only shifts about already existing things can be readily corrected by pointing out that many things can be made only by assembling substances from widely distant places. The relative value of these substances will depend not on the attributes of the individual material components of which they consist but on relative quantities available together at the locations required. Thus trade in raw materials and semi-finished products is a precondition for increase in the physical quantities of many final products that could only be manufactured at all thanks to the availability of (perhaps small quantities of) materials fetched from far away. The quantity of a particular product that can be produced from resources found at a particular place may depend on the availability of a very much smaller quantity of another substance (such as mercury or phosphor, or perhaps even a catalyst) that can be obtained only at the other end of the earth. Trade thus creates the very possibility of physical production. The idea that such productivity, and even such bringing together of supplies, also depends on a continuous successful search for widely dispersed and constantly changing information remains harder to grasp, however obvious it may seem to those who have understood the process by which trade creates and guides physical production when steered by information about the relative scarcity of different things at different places.

Reciprocity – if you give someone a Christmas card, they will want to return the favor. 2.​Likability – make yourself trustworthy. For instance, outline the negatives of dealing with you. 3.​Consistency – ask someone for a favor. Now they will say to themselves, “I am the type of person who does James a favor.” 4.​Social Proof – if you are trying to get someone to do X, show them that “a lot of your peers do X.” For instance, if you are at a bar and you are a guy trying to meet women, bring your women friends and not your guy friends with you. 5.​Authority – “four out of five dentists say…” 6.​Scarcity – “only 100 iPhones left at this store!” 7.​Unity – you and I are the same because: location, values, religion, etc.

Scarcity of resources brings clarity to execution and it creates a strong sense of ownership by those on a project. Imagine raising a child with a large staff of help: one person for feeding, one for diapering, one for entertainment, and so on. None of these people is as vested in the child’s life as a single, overworked parent. It is the scarcity of the parenting resource that brings clarity and efficiency to the process of raising children. When resources are scarce, you are forced to optimize. You are quick to see process inefficiencies and not repeat them. You create a feeding schedule and stick to it. You place the various diapering implements in close proximity to streamline steps in the process. It’s the same concept for software-testing projects at Google. Because you can’t simply throw people at a problem, the tool chain gets streamlined. Automation that serves no real purpose gets deprecated. Tests that find no regressions aren’t written. Developers who demand certain types of activity from testers have to participate in it. There are no make-work tasks. There is no busy work in an attempt to add value where you are not needed.