Archive for November 26th, 2012

scarcity of lifetime

The other day I watched a discussion between people who suffer from terrible diseases and are said to die soon. All of them agreed that knowing they will pass away in the near future reminded them of how precious lifetime actually is. When I watched their discussion, I recalled¬†Steve Job’s famous speech at Stanford.

As an economist one might regard death as similar to a price tag. In a market economy, prices are not chosen randomly. They transmit information about the scarcity of things. If gas prices increase, people are aware of the limited supply. They might buy a more eco-friendly car or drive less than they planned to.

With death it is very much the same. It reminds people of the scarcity of lifetime.


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