Milton Friedman: Scarcity in Midst of Plenty

Posted by admin on Sunday, September 16, 2018

Milton Friedman Money Quote saying he could not abide by the conflicting existence of poverty when there is wealth everywhere surrounding us. Milton Friedman said:
 
problem of scarcity in the midst of plenty ... of people starving while there are unused resources  Quote
 

“My major problem with the world is a problem of scarcity in the midst of plenty … of people starving while there are unused resources … people having skills which are not being used” — Milton Friedman

 

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Milton Friedman is expressing frustration with scarcity and lack of access to resources in a world where abundance exists.

He notes the paradox of people starving even though there are unused resources and skills that could help address food shortages if put to use. Friedman seems to be criticizing an inefficient allocation and distribution of the world’s resources, where wealth and necessities are not being shared equitably.

His quote suggests that with better coordination and cooperation, global problems like hunger could potentially be solved or mitigated by making use of readily available assets and skills that currently go underutilized.

Overall, Friedman is highlighting the disconnect between widespread plenty on the one hand, and localized scarcity causing real hardship on the other, due to failures of coordination and access rather than any absolute lack of means.

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