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Updated: June 19, 2025
Nature is not neglectful, and well she knows the disaster of delay. She is prodigal of the individual and is satisfied with one match out of many mismatches, just as she is satisfied that of a million cod eggs one only should develop into a full-grown cod. And so this love of the human in no wise differs from that of the sparrow which forgets preservation in procreation.
In contrast, foreign debtor countries must learn to live with currency mismatches where their banks' and other corporate international liabilities are dollar denominated but their assets are denominated in the domestic currency. As these mismatches cumulate, any foreign country is ultimately forced to repay its debts in order to avoid a run on its currency.
Our infinite wants, the finiteness of our resources and the bad job we too often make of allocating them efficiently and optimally lead to mismatches between supply and demand. We are forever forced to choose between opportunities, between alternative uses of resources, painfully mindful of their costs. The classical concept of scarcity unlimited wants vs. limited resources is lacking.
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