What happens to what you wrote if the economic models are not based upon scarcity anymore?

This idea assumes that the economic model creates realty. While there is some truth to the fact that policies and perception affect the economy, people still live in a real world.

In economic models the term "scarcity" is simply a way of pegging the economic model back to the real world.

It seems to me that the best way to create abundance is to create economic models that actually reflect real human lives.

The economic fantasies that people create tend to crash when confronted with reality.

It was not too long ago that people felt that derivatives, mortgage-backed-securities and other economic artifacts could lead directly to widespread prosperity.

These economic contrivances created short-lived bubbles in which people felt abundance, but economic realities set in when the bubbles burst.

What is the past-tense of burst? Is it burst, bursted, bursticated? I thought I was making a point and I just proved that I don't know how the English language works.

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