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284. Superabundance: The Age of Plenty | Marian Tupy, Gale Pooley
The Jordan B. Peterson Podcast
The Economists Opposed to That, Soil and Green
The hypothetical biological thinking based on the ideas of Malthus outlined the concept of populations expanding until they consume all available resources, leading to collapse, which was observed in experiments with yeast, rats, and animals. Biologists extrapolated such behavior to humanity, prompting objections from economists who highlighted human intelligence and ability to innovate to address scarcity. Economist Julian Simon's bet with Paul Erlich on the price of commodities demonstrated that as the world's population increased, the price of metals decreased, indicating increasing availability due to human innovation. This emphasized the necessity of specifying timeframes for scientific hypotheses to be accurate and relevant, challenging theories lacking such precision to be considered weak and unreliable.
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