Saw this on Twitter:
Unlearning Economics ? @UnlearningEcon
@worstall responds with a piece where he effectively denies resource constraints, stating my point better than I could: http://www.forbes.com/sites/timworstall/2012/03/24/we-dont-consume-resources-we-create-them/
In which I write the following:
One of the points that economists have a really hard time getting over, probably because it is so counter-intuitive, is that we human beings don’t really consume resources, we create them. This has implications for huge swathes of the environmental movement and also for certain parts of the Peak Oil theory.
Please note that I’m not trying to state, as no economist is, that we do not live on a finite Earth. That there isn’t some limit to the number of copper atoms available to us, or that oil or natural gas are out there in truly unlimited quantities.
The argument is, rather, that while there are indeed such hard limits to availability they are so far away from our current situation that they’re irrelevant (for example, the hard limit for tellurium is 120 million tonnes and we use 125 tonnes a year). Thus an entirely different dynamic comes into play, one in which we humans create resources by developing the technologies that make them available to us.
This is a denial of resource constraints?