This paper is aimed at discussing a new economic representation for the nature of resources scarcity represented by the passage of an empty world to a full world where natural capital is the scarce and limiting factor of economic development. It is also considered an evaluation of the role of natural capital as a provider of useful ecosystem services to human welfare. In addition, it is pointed out the implications that this fact holds for the economic science in terms of the need for a new development model referred to as full world economics or green consensus, whose main objective would be the preservation and efficient allocation of natural capital. It is argued that this new interpretation of the nature of scarcity has relevant implications either for redefining the purposes of economic policy and for the definition of sustainability in economics.
Scarcity; Natural capital; Empty world; Full world; Full world economics
