Why scarcity is your secret weapon

In “Average Is Over”, author Tyler Cowan writes:

“In today’s global economy here is what is scarce:

1. Quality land and natural resources
2. Intellectual property, or good ideas about what should be produced.
3. Quality labour with unique skills.”

We’re not in the real estate or utilities business, but what an awakening we can get by understanding lines 2 and 3 above.

If there’s a scarcity of good ideas, quality work and unique skills, isn’t that what we should be aiming to provide?

Put another way, mastering your craft, your profession and your niche can only lead to riches in a market economy.

Get so good they can’t ignore you, as some smartass somewhere once said. 

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