What the U.S. grab of ocean seabeds signals
The United States’ recent expanded claims to ocean seabeds signals that the easy stuff has run out or will soon.
The United States’ recent expanded claims to ocean seabeds signals that the easy stuff has run out or will soon.
Contrary to the proclamations of neoclassical economists (like Robert Solow), the world cannot get along without natural resources. That this fact needs stating is a testament to the shallowness of economic theory.
In 1969, the late Professor Albert Bartlett famously delivered a lecture, entitled “Arithmetic, Population and Energy”, which begins with the observation that, “The greatest shortcoming of the human race is our inability to understand the exponential function.” The truth of this is profound and irrefutable…