Beyond Scarcity

Abstract

Through the work of neoclassical economist Thomas Sowell, Elliot Goodell Ugalde dissects the orthodox view that takes for granted that scarcity is at the center of economic life. In a world of various kinds of surpluses, Goodell argues, the idea that scarcity is the only organizing principle of our economic is inadequate to describe the complex interactions of institutions, history, and social power that make up economic organization under capitalism.