“In some ultimate sense, the total quantity of resources must of course be declining. However, a resource that would run out centuries after it becomes obsolete, or a thousand years after the sun grows cold, is not a serious practical problem. If it is going to run out within some period that is a matter of practical relevance, then the rising present value of the resource whose exhaustion looms ahead will automatically force conservation, without either public hysteria or political
Quote of the day
While waiting for MAN OF STEEL to start, I was reading “Basic Economics” by Thomas Sowell. I found this quote interesting in regards to supposed scarce resources.