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Econ: What are unlimited wants? 3 Views
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Description:
What are unlimited wants? Unlimited wants is the fancy economic term used to describe the fact that people want more and more “stuff.” The definition also encompasses the problem resulting from people always wanting more and the earth having a limited number of resources available to provide all of this stuff we want.
Transcript
- 00:00
And finance Allah shmoop What are unlimited wants Darth Vader
- 00:07
Voldemort Biff Sarah mon What are these villains all have
- 00:12
in common Well they're all facing the impossible situation of
- 00:16
unlimited wants You give all these villains and inch and
- 00:19
what do they do Well they take a mile and
Full Transcript
- 00:21
they still want more Yeah Unlimited wants is the habit
- 00:25
of never being content with what you have and always
- 00:27
wanting more more more Now this wouldn't be a problem
- 00:30
if everything was infinite Infinite time infinite money Infinite resource
- 00:35
is But that's just not based on the real world
- 00:37
There are only so many resource is to go around
- 00:39
which means that in the real world we're dealing with
- 00:42
scarcity Mixing unlimited wants with scarcity is like mixing oil
- 00:46
and water You want them to be compatible but it
- 00:49
just ain't gonna happen So what while the villains want
- 00:51
while they want power in order to fulfill their dreams
- 00:54
For instance Darth Vader didn't want his loved ones to
- 00:57
die and suffer you know like his mom did Now
- 01:00
that's something we can all relate to pretty much But
- 01:03
for most of us well we decide our limited time
- 01:05
here on earth is just something we have to accept
- 01:08
But not for Darth His unlimited ones facing scarcity are
- 01:12
what led him Teo the dark side If we look
- 01:15
at villains in that light while most villains are actually
- 01:17
just slaves to their own unlimited wants they can't be
- 01:20
content in life Which drives them to extreme Yeah poor
- 01:24
guys When we're not being too self aware we think
- 01:27
things like Well if only I had the perfect set
- 01:30
of headphones or if only I made a little more
- 01:33
money or if only I could take that trip to
- 01:36
Tahiti Yeah Then I'd be happy And I wouldn't want
- 01:39
anything else now But the truth is while wanting is
- 01:42
a habit Once we get what we want we get
- 01:45
used to it New headphones You're psyched The first day
- 01:48
and maybe still the first week But by next month
- 01:51
the newness has worn off and they have that earwax
- 01:54
smell going on him And now you're wanting something else
- 01:57
You're on the heat Danek Treadmill a k a He
- 02:00
Midanek adaptation Welke Danek Adaptation is the tendency for people
- 02:04
to return to their usual state of happiness pretty quickly
- 02:07
After a positive or negative change has worn off But
- 02:10
like many of us Walda Mart is definitely on a
- 02:13
hedonic treadmill He had a tough childhood in orphanages which
- 02:16
got him in the habit of seeking what he lacked
- 02:18
security and admiration He kept getting more secure with all
- 02:22
those you know Horcruxes protecting him from being killed And
- 02:26
he kept getting Mohr admiration from all his cult follower
- 02:29
You know death eaters with each level of increased security
- 02:33
and admiration Wealthy effects didn't last long and he returned
- 02:36
to his habit of wanting more security and more admiration
- 02:39
More more more more It was never enough Alright well
- 02:42
Voldemort Darth Vader and the rest of them aren't really
- 02:44
villains They're just insecure guys who would don't know when
- 02:47
to call it quits They don't know how to get
- 02:49
off that he danek treadmill of Unlimited wants They just
- 02:52
can't accept that scarcity is a thing That's why villains
- 02:57
are always grumpy and flustered and never happy and content
- 03:00
and well usually lose In the end If that sounds
- 03:03
like you always grumpy unflustered and never content consider giving
- 03:06
yourself the gift of self awareness and or coming toe
- 03:09
work for shmoop You're probably on the hedonic treadmill and
- 03:12
maybe you should consider stepping off for a bit regardless
- 03:15
of whether you decide to embody a content Buddha or
- 03:18
a grumpy villain while unlimited wants in a Scarce World
- 03:22
is kind of what keeps our capitalist economy churning in
- 03:25
the big picture the more stuff that's bought while the
- 03:27
Maur the economic wheels turn and that's good for the
- 03:30
pocketbooks of everyone Well maybe the habit of unlimited wants
- 03:33
You know the thing most villains have in common is
- 03:36
actually the hero of the economy Right Greed is good
- 03:39
So it's okay Voldemort you do you And we'LL just 00:03:42.833 --> [endTime] reef your benefits How about that
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