EconTalk Andrew McAfee on More from Less
Oct 14, 2019
Andrew McAfee, Co-director of the Initiative on the Digital Economy at MIT, discusses the transformative effects of technology on resource consumption and economic growth. He presents the concept of dematerialization, showcasing how developed nations can achieve more with less. McAfee challenges conventional views on resource limitations and explores the role of human creativity in solving environmental challenges. He also critiques consumerism and highlights the potential of innovative technologies like nuclear energy in addressing climate issues.
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Dematerialization
- Dematerialization is the surprising phenomenon where developed economies produce more while using fewer resources.
- This challenges the assumption that economic growth requires increased resource consumption.
Non-Zero-Sum Growth
- The world isn't always zero-sum; economic activity can benefit some without harming others.
- Absolute poverty has fallen despite population growth, demonstrating this principle.
Malthus's Miscalculation
- Malthus predicted resource limitations would lead to population collapse, he was right historically but wrong in his predictions.
- The Industrial Revolution disproved his theory by increasing agricultural productivity.
