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[James Quillian]

In economics scarcity is assumed, always. Any resource is assumed to be scarce because no matter what, there is not enough for everyone to have all they want. The characteristic of scarcity has been neutralized with respect to money. Does that matter? The real question is, how much does it matters? When scarcity disappears, the act of economizing is discontinued. This has never happened before so there is naturally a lot of guesswork in figuring out how severe the consequences will be. This is the first time in history, as far as I know, where any resource has been deemed free. One interesting facet of economics is, even if we know an action will cause problems, there are so many possible outcomes, all we can do is cover our heads and hope nothing hits us.