37 ms·
Luckily it turns out capitalism is amazingly good at solving problems with the following characteristics (unlike many other problems): We need to incrementally
by iudqnolq 3y ago
Luckily it turns out capitalism is amazingly good at solving problems with the following characteristics (unlike many other problems): We need to incrementally invest money in expanding capacity. The investments will be profitable along the way. If one party underinvests the others will earn more.
Remember when we were going to run out of rare earth metals? The shortage incentived innovation in extraction techniques and the problem was solved.
In the 1960s-70s serious people actually thought we would run out of farmland and everyone on earth would starve.