In our daily living we base decisions and actions on scarcity. I frequently hear from my coaching clients and friends they lack time- time to be with family, time to pursue what they love, time to rest, sleep, play.
As your time becomes more scarce, you value it more. Basic human nature.
Economics is based on this principle of scarcity. Though most people think economics is the study of money, classic economics is the study of utility- what is useful and valuable to us. Economics doesn’t just come from professors and wonks sitting in Ivory Towers, despite the stereotype. Economic theory is based on the study of human behavior.
Through centuries of observation of human behavior- how people make decisions and act- economic models are developed. And these models of human behavior center on the principle of scarcity. The more scarce something is, the more valuable it becomes to us. No theorist in the corner office is dictating that- it comes from our ordinary every day activity. Whether it’s time, art, flowers, land, water, food, scarcity is a key component to economic theory and how we live day to day.
So how do we shift away from basing our life (and economic models) on scarcity?
Can we truly live in Abundance in a Scarcity world?
The conclusion I’ve come to is that we have to shift our mindset, our consciousness.
It’s our mindset that creates scarcity. It’s our ability to see and understand possibilities that is limited, lacking.
As we believe and act from a mindset of no lack or scarcity, we shift into abundance thinking. And by doing so we create greater abundance. Expand your horizons, focus more generally, be more global in your thinking and you step into abundance. You change how you act, make decisions, and live by how you understand and expand your options.
Case in point. If you want only one type of phone, you limit the phone you will buy and create scarcity for yourself. If you expand your thinking and focus on what that phone offers for you- it’s utility- you recognize the value of it is to share ideas and connect with friends and family. Now you expand your options to the many ways you can share ideas and connect with people.
When you know that there is no limit on the amount of joy you can have, you freely share it. As you freely share joy, you create more joy around you.
As you telescope out and realize there are infinite ways to live happily, or work meaningfully, you start to dial into greater abundance.
From this mindset and awareness you live a prosperous life.
It’s all in how you define prosperity and abundance. As soon as you limit your life choices on specific tangible things you have to have in order to be happy and fulfilled, you shrink from abundance into scarcity.
Test this out in the weeks ahead. When you catch yourself thinking ‘this is limited, not enough, scarce’, go general and think ‘there is more abundance here’.
Have Fun!
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