The cheap money problem is, at root, that investors were pouring money into projects with bad unit costs. Had they understood that the product can't* be sold at

The cheap money problem is, at root, that investors were pouring money into projects with bad unit costs. Had they understood that the product can't* be sold at a profit, they would not have done that. * in the current business environment, where it competes with farmers who have lots of nice land and free sunshine. Maybe in some future hellscape, food towers will be our most economic option. Or indeed in a future paradise where the externality provided by wilderness is priced appropriately, such that people have an incentive not to waste precious land and biodiversity for the sake of corn and beef.