Generational Shift of Scarcity Premium

When an asset class transitions from traditional scarcity drivers (craftsmanship, historical provenance, import restrictions) to new scarcity drivers (local brands, cultural identity, purchase convenience), consumer willingness to pay reallocates across different value carriers. This causes traditional scarcity holders to decline while new carriers surge. The underlying asset value remains unchanged—gold's store-of-value function persists—but the answer to 'who embodies this value' shifts fundamentally.

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Related principles

• → Links
  Value Chain vs. Cultural Ecosystem Asymmetry
• → Links
  Cost Pass-Through Paradox & Demand Destruction
• ↗ Extends
  Mean Reversion of Valuation
• → Links
  Status Ladder Effect
• → Links
  Capital Tail-Chasing Effect
• ↺ Counters
  Rentier Economy Trap
• → Links
  Strategic Asymmetry of Resource Reserves vs. Production Capacity
• → Links
  Growth Bifurcation
• ↺ Counters
  Waste-to-Value Upcycling