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This article descibes the simple way of life of the Maasai people. As the article states, since 1885 this people have fasinated the rich western world. What I found fasinating was that the very things that made them as a people so interesting are also the same things that we in the western world do not desire for ourselves. We want comfort and luxury. Given the scarcity of resources that our generation is having to deal with, the Maasai people may become our new model of society.

On the world stage, the debate over Keynesianism played out between the big powers during the world financial recession. Whilst the conservative British and German governments have been significantly reducing their government budgets, President Barack Obama has been priming the Keynesian pump by advocating much government "stimulus" spending. Obama's predecessor, George W. Bush, also spent federal cash in attempts to revive the economy...

Many rich countries' debt levels are uncomfortably close to 150-year highs, despite relative peace in much of the world. There is a no easy way out. For now, low world interest rates are restraining debt-service costs, but debt levels can be reduced only very gradually over long periods, whereas real (inflation-adjusted) interest rates can rise far more quickly, even for rich countries. More examples regarding indebted countries and whether or not they should reconsider their fiscal policies to relieve their debt are further discussed in the article.

While the economic definition of 'scarcity' may seem obscure to this particular scenario, on closer inspection we find that the definition of 'unlimited needs/wants but limited resources' can indeed be applied to the scarcity of jobs as a result of the recession. The 'want' in this case is labour seeking employment and the limited resource is the relative liquidity of business. While this article is generally about foreclosure and its effect on the economy, I feel it demonstrates a highly relevant application of economic scarcity in the current environment.

I totally agree with you and the website. Jobs are also a scarcity problem. Because resources cannot be limited (some maybe not), but jobs is definitively limited, due to the fact, there are not enough jobs for everyone. Day by day, people are suffering more to find jobs, due to the amount of people trying to get them. Popularity in the world is increasing greatly, jobs is not so much; therefore, jobs is a scarce "good".

Jobs are the main scarcity problem in my country and I think it's a huge problem for the world too. Like resources, there are limited amount of jobs for the people and sometimes adults stay jobless. As the world's population increases, number of unemplyed people increases too. When there was an economic crisis in the world, many poeple were fired from their jobs.

The article discuss how despite the world wide economic crisis, Coca-Cola is able to not only stay afloat but they have manage to increase the net income in the US and around most of the world. Demand for Coca-Cola will remain stable or grow despite the world economy.

There is a risk of a double-dip recession because of the chronic lack of aggregate demand and the failure of the austerity packages provided by the European countries.

This article talks mainly about all the economical problems, especially deficits, between European countries and who is to blame for it. And what should we do? Well one statement was: "it will be only a matter of time before one or more countries resort to protectionism. That could, as in the 1930s, lead to a disastrous collapse in activity around the world," He definitely prefers free trade and thinks it is important to focus on a collaborative strategy, so countries should help each other out in these hard economic times instead of work against each other.

The article discusses whether Denmark made the right choice in having a fixed exchange rate between the Danish Kroner and the Euro. On one hand it has brought stability/predictability to Denmark as an exporting nation, on the other hand Denmark is unable to use a change in exchange rate to boost the economy.

Although Turkey's economic indicators outpace many countries around the world, major differences in regional development are still an issue in the country and call state policies into question. Turkey has witnessed noteworthy growth in the last decade. At the same time, the country was also successful in lowering the yearly inflation rate to a 41-year low, 6.4 percent, in 2010. But despite these and similar advancements, economic development has not attained the same pace in every region in the country.

Japan's nuclear crisis and the devastations caused by last Friday's earthquake and tsunami are unlikely to trigger a global recession as happened in the aftermath of the collapse of the US investment bank Lehman Brothers three years ago, according to leading economists. However, they expressed fears that automobile and electronic industries around the world, especially in Asia, Europe and the US, may face manufacturing delays, if the Japanese production of components remain crippled for a long period. Even though Japan is the world's third largest economy, its share of the global gross domestic product (GDP) is below 5 per cent. Therefore, the consequences for the global economy from the catastrophe will be very minimal

"WHEN disaster strikes, the reaction of many investors is to scoot first and ask questions later." The recent natural disaster in Japan not only caused tsunamis that destroyed the cities, but it also caused ripples of detrimental effects on the world economy. Investors reluctant to put their money on the table due to the negative trends due to geopolitical and economic reasons around the world further contribute to the cycle of recession.

This is a NYT editorial article written in June addressing the issue of a looming trend of protectionism. The big trading nations' patience with the open market is wearing thin with the sluggish economic recovery. However, it is crucial that the world stays committed to the game with a sense of common purpose to survive the economic crisis. Protectionism brings disruptions of the international supply chains and reduce economic activity.

Imposition of levies (taxes) by G20 governments to reduce government budget deficit: The G20 summit held in Canada over the weekend has confirmed the trend of fiscal consolidation which is happening in many of the major world economies in the wake of the financial crisis and recession. Leaders have agreed that debt as a proportion of gross domestic product needs to be stabilised or actually reduced by 2016 and it was noted that all the G20 countries had committed to halving their respective deficits within three years. Plans to introduce a global levy on banks have, as expected, been dropped although the summit confirmed that member countries would be free to introduce their own measures. The UK introduced a levy in the emergency Budget last week and some other European countries also have plans to do so...

Poverty has risen in Nigeria, with almost 100 million people living on less than a $1 (£0.63) a day, despite economic growth, statistics have shown.

Andrei Geim and Konstantin Novoselov won the nobel prize for their researches on graphene. Graphene is a new material that derives from Graphite (the inside of pencils) and it turns out to be the best heat conductor available and to be able to conduct electricity as fast as copper. Its uses are almost infinte and they predict that it might take the place of silicon for faster computers in the future.\nHaving to deal with scarcity people find clever ways to go about with what is available to them, and often by inventing new things, in this case *Graphene*, we can make better use of resources and avoid wastes of other, less efficent, materials.

A study made by the World Resources Institute (WRI) and HSBC 's Climate Change Center of Excellence in Southeast Asia found out that the largest thermal and hydroelectric powerplants were located in areas greatly suffering from water scarcity. This poses a major problem since these power plants heavily rely on water.

The lowering prices of Madagascar's vanilla, lower the wages for the farmers in this industry, which causes some of them to leave their crops. They earn a little over $1.50 per day, due to the new low costs of the crops ($500 per kilo before, and now $30 the kilo). These low prices are essentially caused by competition and the new popularity for synthetically produced spices such as vanilla.

this article explains certain issues with regards to price controls of wine. wine cost control is important because subsidizing wine industry is an important topic in the Eu and in world, this article has intself many aspects and problems which could be faced due to wine control and here is also said why is it difficult to control it.

Zimbabwe's week-old campaign to calm down its crazy inflation by physically forcing merchants to lower prices and it is pushing citizens to the edge.

This article illustrates the differing prices of Apple's iPad devices in various countries. It cites reasons such as proximity to manufacturing base, average GDP per person as reasons for the disparity in prices across the globe. The article implies that the elasticity of iPads would be different in different regions of the world. The iPad as a device is interesting in the study of elasticity as it is akin to other forms of technology that are constantly developing. With more and more technology developing, elasticities for technological products are becoming more and more elastic due to the great number of substitutes available.

A battery company built their plant to close to a community where young kids lived, not taking into account the health of these kids, and thus causing a market failure.