EconTalk Andrew McAfee on More from Less
Oct 14, 2019
Andrew McAfee, Co-director of the Initiative on the Digital Economy at MIT, discusses the transformative effects of technology on resource consumption and economic growth. He presents the concept of dematerialization, showcasing how developed nations can achieve more with less. McAfee challenges conventional views on resource limitations and explores the role of human creativity in solving environmental challenges. He also critiques consumerism and highlights the potential of innovative technologies like nuclear energy in addressing climate issues.
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Jevons's Coal Question
- Jevons, like Malthus, worried about resource depletion, specifically coal, during the Industrial Revolution.
- He argued that increased efficiency would lead to more overall consumption, not less.
Marshall's Insatiable Wants
- Alfred Marshall countered Jevons by arguing that human wants are insatiable.
- He believed economic growth would continue as people constantly desire new and better things.
Earth Day Predictions
- Around Earth Day 1970, dire predictions about resource depletion and extinction were common.
- These predictions often proved dramatically wrong, highlighting the fallibility of such forecasts.
