There is no such thing as limited resources, there is only unlimited resourcefulness.
People often claim that infinite economic growth is impossible in a closed system. Besides the fact that planet Earth is not a closed system, a thousand tons of cosmic material falls onto Earth each year, it is not the confines of this system that constraints our growth, yet. Growth is by all practical scales and timeframes regulated by an open system, namely our brains. Its creativity and ingenuity knows no theoretical bounds and can be considered infinite. The cumulative knowledge it has been building has been growing for ever and continues to do so at a mindboggling pace of yearly doublings. It is this growth that has been paramount to our economic development.
When rivers flowed idly, its energy preserved in the flow, it was the knowledge of the waterwheel that enabled us to use part of…
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