• junioreconomist (edited 5 years ago)
    +3

    I would, if I may, ask a question of you that I should probably research on my own, but as you have a firm understanding, and I prefer to learn from interaction, I think this is the best course.

    A definition for economics that we most often use comes from Lionel Robbins--"Economics is the study of the use of scarce resources which have alternative uses." Keeping this in mind, and that "scarce" means that what everybody wants adds up to more than there is (as Thomas Sowell put it), how does Socialism solve the problem of scarcity?

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