Appreciating Abundance

Thanks to market exchange, Americans enjoy a greater variety of food choices, pay less for groceries than before, and have more income left over after grocery expenses. And, of course, this abundance is not limited to food, but extends to material goods and technology.

Bafflingly, there are those who bemoan abundance. Bernie Sanders, to name one, has said, “You don’t necessarily need a choice of 23 underarm spray deodorants or of 18 different pairs of sneakers.”

When grocery-shopping to stock up for the impending blizzard, many of us on the U.S. East Coast were met with extremely limited choices and nearly barren aisles. When I attempted to buy sliced cheese, for example, there was only a single kind left: Swiss. There was no provolone or Muenster or pepper jack or cheddar or Colby any of the other varieties normally available. Although I find Swiss cheese bland, I bought it because it was my only option. I and many others were “living the dream” of those who romanticize scarcity.

An economics professor summed up the situation in this humorous tweet: