I don’t see how adding a futures market on top would make the spice less scarce. All you are doing is creating inequality. The total spice remains the same.
I think market nerds forget that markets themselves are a form of rationing.
If there are 1000 people and 1000 pieces of bread, a perfectly fair system would give one piece of bread to every person. In market system, the amount of bread remains the same except it’s rationed based on purchasing power. So if bread costs $1 and 50% of the population has no money while rest have $2, then the “Rich” could buy double the bread.
It’s also the most inelastic resource ever since it both enables interworld trade and is highly addictive, and, off world, it is used exclusively by obscenely wealthy people. Interworld trade is also not optional for places like Giedi Prime without enough agriculture to feed the on world population.
I don’t see how adding a futures market on top would make the spice less scarce. All you are doing is creating inequality. The total spice remains the same.
I think market nerds forget that markets themselves are a form of rationing.
If there are 1000 people and 1000 pieces of bread, a perfectly fair system would give one piece of bread to every person. In market system, the amount of bread remains the same except it’s rationed based on purchasing power. So if bread costs $1 and 50% of the population has no money while rest have $2, then the “Rich” could buy double the bread.
It’s also the most inelastic resource ever since it both enables interworld trade and is highly addictive, and, off world, it is used exclusively by obscenely wealthy people. Interworld trade is also not optional for places like Giedi Prime without enough agriculture to feed the on world population.