Getting over scarcity

Any good economist worth his salt will tell you that “scarcity confers value” — the well known diamond – water paradox.  Goods in plentiful supply (water) will have low value in exchange (aka price), despite having a high value in use (die of thirst).  So, art that is unsigned or produced in photocopy mode sells for much less than unique oil paintings and sculpture.  And yet, a Picasso photocopy still holds much more inherent artistic value than the oil painting by your neighbour next door.  So, why don’t we just get over the capitalist facination with artworks as investment and start unabashedly hanging more Picasso photocopies? (The very BEST butter).


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