Economics of Scarcity

Archive Report

Increasing Shortage of Vital Goods

Diminishing Material Abundance for U.S. Public

The American Cornucopia, that overflowing horn of plenty, has an ominously hollow air about it these days. It still is undeniably bountiful, but lately this land of material abundance has come up short of some important items—including foods, fuels, lumber, chemicals and textiles, to name just a few. Though not crippling or universal, the shortages are widespread and irritating enough to wake up the American public to the harsh fact that many traditional resources can no longer be taken for granted. Many say the shortages are merely temporary, and that the cornucopia soon will replenish its depleted supplies. But others grimly forecast a future filled with insufficiency and want, and warn that the nation should ...

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