And you hear the words scarce resources a lot when people talk about economics.

The resources of the earth are limited.

(Laughter)

We have limited resources.

But a resource that would be scarce is something like food, or water, or money, or time, or labor.

Growth of use will consume any energy or resources saved through conservation.

For example, love might not be a scarce resource. You might have an infinite amount of love.

That's Norway, the richest country in Europe. It's Australia. It's Canada.

As long as they don't get to Lau, we've cut off their funds.

But we need to think broad scale. We need to think globally.

Some badly made Python interpreters might raise an exception on this, but it should not.

And economics is very interested in scarcity.

Let's conserve our limited water supply.

Let's conserve our limited water resources.

The flat horizon that we've evolved with has been a metaphor for the infinite unbounded resources and unlimited capacity for disposal of waste.

And as a child you're always worried about resource.

And U.S. economy that's real wealth.

That was one of those turning points where I said, wow what am I doing here?

Allocation .. of scarce resources.

That country has natural resources.

And you feel something about this.

Natural resources are not limitless.

The country is rich in natural resources.

That country is rich in mineral resources.

We should make the best of the limited natural resources we have.

It's your resource it's not somebody else's.

So there's lots of reason for pessimism.

Where do they get their water? Where do they get their shelter?

Resources.

When the IMF was created in the 1940s, it was created with resources that were five percent or so of the world's GDP.

The district is abundant in natural resources.

The country is rich in natural resources.

In order to restore the bond, we need to utilize regional resources.

But we are entering an increasingly dangerous period of our history.

It takes too much energy. It will cost too much.

And if you look at the species level, you saw about fish.

(Applause)

And those resources are going away.

Growth is limited by the essential resource in scarcest supply.

The first is how to take the resources out of the ground the economic processes, taking the resources out of the ground and putting assets on top of the ground.

And this is very important.

So I'm going to talk about some projects that have explored these ideas.

The country is abundant in natural resources.

That country is rich in minerals.

Life also has a metabolism.