Quote from: BitcoinAleph on January 21, 2025, 04:58:24 AM

The basic economics problens of society arise because of scarcity of resources.
Every society has to address three basic problems of daily living namely: what commodities to produce;how to produce them; for whom to produce these goods and services; and how to distribute. It must ration resources over time as well as maintain the current level of output and strive to achieve economic growth in the society

In all of history most economic systems have been tried at various times and to varying degrees of success. Rationing is the wrong term, in the modern age we see that well regulated capitalism is probably the most effective method of allocating resources to the most productive parts of society because it is self regulating. Waste is removed through various ways - companies will go bankrupt if they do not stay efficient and gradually phase out services or products that are no longer lean enough. If there are ways to automate that is cheaper or more effective than previously man made goods, then that is the path that business will take to beat competitors out of the market or massively increase profit margins.