Scarcity and Constraints
Scene 1. Scarlett
If stealing becomes legal one day, Scarlett would be very happy. Finally, she can steal diamonds from jewelry stores as much as she wants.
But soon, she finds that there are no diamonds left in the stores, which makes her very confused.
It turns out that once store owners realize stealing is legal, they immediately stop buying diamonds from suppliers. Instead, they start stealing diamonds directly from gem miners.
When gem miners realize that stealing is legal too, they understand that any diamonds they mine will soon be stolen. Since they are at the very beginning of the gemstone supply chain, they have no one to steal from.
Of course, they immediately stop mining. The diamonds remain deep underground in the mines, where Scarlett has no interest in stealing them.
Scene 2. The Moon
On a cool and clear autumn night, the moon was shining bright and white, spreading its silver light over the river. Su Shi and his good friend sat in a small boat and traveled to the upper part of the great river near Red Cliff.
Looking at the great river, his friend thought of the famous hero Cao Cao from ancient times. Cao Cao once led thousands of soldiers and fought great battles here. But now, the river still flows quietly, while the hero of the past and the busy battlefield have all disappeared.
His friend could not help sighing sadly and said, “Look, Cao Cao was once one of the greatest heroes in the whole world. But where is he now? His dreams and ambitions were so great, yet how much of them did he finally achieve? Our lives as ordinary people are even shorter and smaller. What can we truly have in this world?”
After hearing this, Su Shi smiled and gently shook his head. He comforted his friend and said, “You don’t need to feel sad. Look carefully at the beauty around us. The water keeps flowing, but the great river itself is always here. The moon keeps changing, but the moon never truly disappears.
Nature is full of countless treasures! The fresh evening breeze, the gentle moonlight, the beautiful mountains and rivers, and the lovely sounds of wind and water — these wonderful things can never be used up or taken away.
They are generously shared with everyone. No matter who you are, as long as you open your heart and truly feel them, you can always enjoy this happiness and beauty.”
《赤壁赋》： National Palace Museum Digital Archive
Scene 3. The Best Gift
Agnes is about to have a birthday, and everyone is preparing gifts for her.
Kevin said, “We should get her a unicorn. She loves unicorns the most!”
Her sister Margo said, “But she already has so many unicorn toys. This year, other people will probably give her the exact same toy too. That’s too repetitive and not interesting at all.”
Stuart said, “Then let me improvise a song on guitar for her—a song no one has ever played before!”
Her sister Alice said, “If you play completely improvised, it might just end up being random noise. Even though that kind of music would be unique, it could sound more like noise, and nobody would enjoy listening to it either.”
They prepared for a long time and finally chose a gift that was both special and meaningful. Bob carefully wrapped it up, planning to hide it in Agnes’s bedroom. What could it be?
Alan’s Remark
Helen shared this thought: “For my opinion I think stealing should not be legal. This is why in our days that stealing is illegal, the people who set the laws definitely have noticed the problem of if this law is legal.”
Thanks for reading! This lecture mainly discussed the difference between “limited” and “scarce.” Scarcity is one of the most important concepts in economics, and many famous theorems begin from here.
Alan was very surprised and inspired when he saw Helen’s comment. Here, he would like to express his sincere thanks to Helen for her excellent understanding, great contribution, and continuous encouragement.
Completed at 22:08 on August 11, 2026.