The Simon-Erlich Wager at Seven Billion People

Guest post by David Middleton Back in 1980, the great libertarian economist, Julian Simon, and the prepetually wrong Malthusian biologist, Paul Erlich, entered into a little wager regarding population growth and resource scarcity. They decided on using the inflation-adjusted prices of five metals to decide the bet. Simon allowed Erlich to pick the five metals.…