Ridley: The World’s Resources Aren’t Running Out

This. Every day, this. I wish every high school senior would read this. If you read nothing else this week read, the Ridley column. And the book is outstanding.

The World’s Resources Aren’t Running Out – WSJ: “Economists call the same phenomenon innovation. What frustrates them about ecologists is the latter’s tendency to think in terms of static limits. Ecologists can’t seem to see that when whale oil starts to run out, petroleum is discovered, or that when farm yields flatten, fertilizer comes along, or that when glass fiber is invented, demand for copper falls. That frustration is heartily reciprocated. Ecologists think that economists espouse a sort of superstitious magic called “markets” or “prices” to avoid confronting the reality of limits to growth. The easiest way to raise a cheer in a conference of ecologists is to make a rude joke about economists.”

Related links:
Quick Book Review: The Rational Optimist by Matt Ridley
Julian Simon – The Doomslayer (Wired) (or PDF here)
Julian Time
Boudreaux on the Economics of “Buy Local”