Sunday, February 14, 2010

Economics: Are we running out of materials?

In which some scientists predict we are all doomed and point out some economists say no to this.

Smart futurists predict doom to come long after they are gone.

Julian Simon was called the " doomslayer". I recommend his books.

Science fiction often concerns the end of Earth into chaos and despair, "the fools have destroyed ourselves," or into perfection, "technology has solved all our problems."

Utopia versus destruction.
I tend to prefer a mix of the two states, but the debate will rage on.


Are we running out of materials.

The economists have history on their side, they point to innumerable instances of commodity prices going through the roof, causing short-term economic shocks, such as the oil crisis of the 1970s. But they say human ingenuity, technology and the economic markets that fund them, have always come to the rescue.