Are we running out of resources?YouTube
Mar. 01, 2011
1.Trump is Right: GOP Debate Audience is Packed Full of Republican Donors
2.FOX Con-Artists Use Unnecessary Censorship To Make Trump Sound Like He Said 'F*ck'
3.75-Yr-Old German Grandmother Tells of Sexual Harassment by Migrants, Interview Gets Interrupted by Clueless "Integrated" Muslim Teens
4.'End of Europe': Trump Slams Merkel's Refugee Policy, Wants Good Relations With Russia
5.EPA Rule to Ban Car Modification
6.New 'Traffic Violations Agency' Brings Buffalo Extortion Racket to All Time High
7.NYPD Cop Who Retired With Knee Injury, $66G Pension Regularly Runs Triathlons
8.Government Agents Hunt Woman Down After Seeing Facebook Picture Of Her Rehabilitating Baby Squirrels
Prof. Steve Horwitz addresses the common belief that the world is running out of natural resources. Instead, there are economic reasons why we will never run out of many resources. In a free market system, prices signal scarcity. So as a resource becomes more scarce, it becomes more expensive, which incentivizes people to use less of it and develop new alternatives, or to find new reserves of that resource that were previously unknown or unprofitable. We have seen throughout history that the human mind's ability to innovate, coupled with a free market economic system, is an unlimited resource that can overcome the limitations we perceive with natural resources.