Post
Topic
Board Economics
Re: Wealth is unlimited.
by
ronwan
on 07/07/2011, 04:15:23 UTC
Except for one minor problem.  Energy is not free and unlimited for us with our current technologies.  If we had limitless power, sure, absolutely.  Time of scarcity is over.

Until then, you are simply wrong.


This is stupid. We never run out of resources in a free market system. Why? The price system prevents that. What happens is when supply gets low, prices start to go up, and people use less of it. What happens when oil supply becomes low? Alternative energy sources start to become viable.

Pretty much right on, I would recommend checking out the late economist Julian Simon on YouTube, he and others have found that the worlds is the opposite as you may think.  The more resources we use the more resources we get.  When Whale oil for lamps got scarce the switch to Kerosene opened of the door for gasoline, cars, plastics. Scarcity causes natural conservation and the search for alternatives, which in turn causes innovations and a rising standard of living.