An intelligent observation from a reader of Legal Foundations of a Free Society (my comments interspersed)
Page 486 had a great example of nuggets in this book that give me a different perspective. Nothing earth shattering, just a more accurate way to understand.
Scarcity is a particularly poor term, for this reason: think of paper clips and why we call them scarce goods. At the root it has nothing to do with the class of paper clips. It’s rather about a specific instance of a paper clip. Now ask if 2 or more people can use that specific object simultaneously without conflict: no. That makes it an economic good. This means we can be talking about the Mona Lisa, of which there is 1, or that paper clip, of which there is (drumroll) … 1.