June 28, 2013

MALTHUSIANS EXIST TO PROVOKE LAUGHTER:

If You Remember 'Peak Oil' And 'Peak Wireless Spectrum,' You're Laughing Now (John Chisholm, 6/27/13, Forbes)

FCC predictions about wireless and U.S. military predictions about fossil fuels went wrong very quickly. Both organizations flinched. They lost faith in free markets to broadcast demand and create incentives through rising and falling prices; and in free people to respond to those incentives to address shortage and scarcity. Julian Simon recognized this responsiveness in his 1981 book, The Ultimate Resource, which refers to human ingenuity to explore, discover, recycle, economize, and develop substitutes. Two new books update these ideas. The Infinite Resource: The Power of Ideas on a Finite Planet, by Ramez Naam, is more intimate, polished, and carefully reasoned. Infinite Progress: How the Internet and Technology Will End Ignorance, Disease, Poverty, Hunger and War, by Byron Reese, is the faster, lighter, more dramatic read. Both books chronicle advances in quality of life that only free people can produce.

Be wary of predictions about complex systems such as technology and natural resources. Trust in innovation and free markets.



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Posted by at June 28, 2013 4:59 AM
  

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