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by exratione
3607 days ago
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The fundamental problem with Malthusianism is that it is static thinking. It projects on the basis of no change in technology, as if the present moment continues eternally. This is why all statements to date on running out of X or Y at time T in the future have proven false. What actually happens is that people look ahead, forecast increased prices for X, and then the more adventurous go and build a better way of getting X, or create a different resource X1 that can be used instead. It is never different this time. Arguably alarmism that fails to consider technological process is a necessary part of the signaling mechanism by which realistic price forecasts are established, an example of the market performing its usual strange alchemy in turning (often willful) ignorance into something useful, but that doesn't stop it from being frustrating. |
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