The Beginning of Indefinite Economic Growth – Part 2

Why do some people claim that the end to economic growth is over or very near? One popular explanation goes this way. Economic growth requires the use of natural resources. On a limited planet, resources are limited. Therefore, when we have used up all our natural resources, economic growth will come to an end. QED.

That explanation belongs in primary school children’s books with illustrations that include smiley faces, but is not suitable for children past their 10th year.

Though quite popular among many biologists (Paul Ehrlich), politicians (Al Gore), gurus (Sadhguru Jaggi), engineers (pick your favorite), and other assorted crazies, that explanation is wrong. The idiotic notions underlying the false explanation were laid to rest by Julian Simon and others many decades ago. But few people have the patience, the capacity or the desire to read Simon. Continue reading

The Beginning of Indefinite Economic Growth

Repent! The end (of economic growth) is near.

Just kidding. That’s just Homer Simpson-esque paranoia. His elevator doesn’t stop at all the floors. He’s a can short of a six-pack. A few sandwiches short of a picnic. He’s working with an unformatted disc.

Unfortunately, Homer is only one of the hundreds (perhaps thousands) of people who have been declaring that end-of-the-world emergency since time immemorial. No doubt the 5000th Anniversary Edition of “The End is Near” will also be a hot bestseller.

Predicted apocalypses have consistently failed to happen — evidently so since we are in the here and now busily calling bullshit on the doomsayers. But why do they produce the bovine feces so consistently, and why do some of the general public consume it so eagerly? Answer to both questions: basic stupidity, ignorance, and an extreme inability to reason. Continue reading