The new economics

One of the first bits of information one learns in a college economics course is that this field has long been termed "the dismal science." It seems like an appropriate term. Just look around, limited material resources, more and more people—not enough for everyone.

Yet as we "look around" more thoughtfully we're confronted with an abundance that would have seemed out of the question in earlier times. In contrast, many argue today that we've overdone it. We've produced too much and are now in danger of depleting the natural resources of the earth.

March 27, 1989
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