Question

In your opinion, how do you think we could solve the problem of scarcity, moreover, how do you think we could cut down on the usage of so limited resources and still be able to produce peoples wants and desires? Do you think that is possible at all?

Answer 1

The problem of scarcity, however unfortunate it may be, cannot be solved but only well managed. I say this because it is not really viable to increase the quantity of a scarce resource. Neither can we suddenly reduce the population drastically to increase the utility of a scarce resource.

So, the only thing that can be done is proper management of resources to ensure they do not get exhausted very easily. This is what Sustainable development strives to achieve i.e to use resources in such a manner that they do not cause problems for the future generation.

People have unlimited wants and desires which are constrained by the reality of life. So we cannot fulfil all wants and desires but we can certainly manage resources in a way that fulfils most needs of the public.

The goal to achieve such a thing is not cutting down on the usage of limited resources but to use limited resources in a smarter and more efficient manner. Let us illustrate this with a simple example.

Let us consider the model of a world where the only renewable resource available is coal and the only non-renewable resource available is sunlight. Therefore, solar energy should be used as a prime generator of electricity and coal should be used as a reserve to fill in the periods of time that solar energy cannot provide electricity(like a cloudy day)
Another scenario is in a less developed country where coal-based electricity generation could be used in rural areas which lack the technology and infrastructure to use non-renewable resources of energy whereas the urban areas could use non-renewable forms of energy since they might possess the infrastructure,capital and technology to implement it,