Comments on: Enjoy Capitalism!

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By: Enjoy Capitalism — Libertarian Longhorns

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By: Free Trade Now! | LibertarianChristians.com

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By: Norman

Norman — Wed, 03 Mar 2010 22:52:29 +0000

Fair enough, Ben. I should have called it “resource allocation”. But yeah, I think you’re right in your statement. There is no issue of lack of energy in the long run.

By: Norman

Norman — Wed, 03 Mar 2010 22:52:00 +0000

Fair enough, Ben. I should have called it “resource allocation”. But yeah, I think you’re right in your statement. There is no issue of lack of energy in the long run.

By: Ben

Ben — Wed, 03 Mar 2010 22:16:08 +0000

Resource depletion is a very vague idea. And in the largest sense isn’t possible. The only resource at the most basic level is energy. Since matter cannot be destroyed we dont have to worry about it, energy cant be either but just work with me on this. We use so little of the available energy it is not even funny. Even with the exponential growth possible we have much more energy than we can use for a VERY long time.

By: Ben

Ben — Wed, 03 Mar 2010 22:16:00 +0000

By: Norman

Norman — Wed, 03 Mar 2010 19:59:20 +0000

Also Sam, I should clarify that I do completely agree that the free market deals with resource depletion better than government will, period. But I think that at a very macro level we won’t see universal resource depletion at any meaningful time scale.

By: Norman

Norman — Wed, 03 Mar 2010 19:59:00 +0000

By: Norman

Norman — Wed, 03 Mar 2010 17:46:59 +0000

Sam: This may be possible, but I would argue very unlikely. Perhaps we could use oil as an analogy. You see, we will never run out of oil. Why? Because as the supply is lessened, the price will correspondingly keep rising. As this cost keeps rising, there will be a demand for different sources of energy to be developed. I don’t know what this will look like, since I cannot predict the future, but we’ve seen this type of innovation come from the market time and time again.

Considering that humanity consumes 0.001% of the earth’s mass every year, and much of this is replenished over generations, I think it very unlikely that the earth will ever be “used up” of resources. Eventually, the marginal cost of re-use/recycling in whatever way the market deems best will allow us to make virtually anything out of older materials. Entropic effects are still real and unbeatable, but just because the entropy of the universe is always increasing does not mean that WE will ever run out of energy to use on any meaningful time scale for humanity.