scarcity and abundance

A distinction first coined by Stephen Covey in The 7 Habits of Highly Effective People, a scarcity mindset assumes there is not enough of the resources one wants or needs and focuses on avoiding risk and preserving what one has, whereas an abundance mindset assumes there is enough of what matters to go around and focuses on finding and grasping opportunities.

Psychologically, a scarcity mindset gives rise to increased jealousy, stress, and lack of well-being, and behaviors prioritizing short-term coping rather than long-term problem-solving, potentially giving rise to the very scarcity one fears. It is associated with anxiety and depression.

From the perspective of evolutionary psychology, the scarcity mindset likely originates in the conditions of scarcity in which our brains evolved throughout most of human history. But it doesn’t serve us as well in our present day conditions of widespread (though unjustly distributed) material abundance.

There is, of course, real scarcity in the world, and we should be careful not to let an abundance mindset turn into magical thinking, for instance regarding Earth’s planetary boundaries.

Tips for developing an abundance mindset

• Distinguish needs from wants, and remember abundance can come from getting more or needing/wanting less. consumerism cultivates a scarcity mindset in us, constantly telling us that we don’t have enough in order to make us feel a need for unnecessary products. Don’t buy in.
• Seek collaboration, not competition. Fundamentally, competition creates scarcity since only one person can win. That can be fun in sports or games, but if every aspect of your life feels like you’re competing with others (especially at work), consider changing your environment.
• Practice remembering (and maybe journaling) what you’re thankful for, as a reminder of the abundance you do have.

“scarcity equals abundance minus trust”

“design from trust“ proponent Jerry Michalski’s TEDx talk, “What if we trusted you?”, makes a link between scarcity, abundance, and trust with the equation “scarcity equals abundance minus trust”. The idea is that trusting others gives rise to abundance, and that withholding trust due to unfounded fears of scarcity may create that very scarcity as a result.