Musk is growing car and rocket knowledge every day. If he really wants to advance humanity let’s hope he can turn to generating green clean electricity knowledge next. Read More ›
In 1856 men in the U.K. had a life expectancy of around 58 years, or 502,860 life hours. According to a study by Professors Jesse Ausubel and Arnulf Grübler, over the course of their lives, these men typically spent around 30 percent of their time, or 149,700 hours working. Read More ›
Technically speaking, the first “cordless” drill was called a bit and brace drill invented hundreds of years ago. You can still buy one of these classics at Amazon for around $57. Read More ›
Elon Musk and Julian Simon are right. Janet Yellen and Thanos are wrong. More human beings create much more wealth for all of us to enjoy, if given the freedom to innovate by learning and discovering new valuable knowledge to share in free markets. Invest in people. We pay the highest dividends. Read More ›
Think pizzas. Personal resource abundance is the size of the slice. Global resource abundance is the size of the pie. Global resource abundance is the product of the size of the slice multiplied by the size of the population. Read More ›
Professor Daniel Sichel from Emory Riddle University has published an interesting paper on nails. He found that before the Industrial Revolution, it took about a minute for a skilled blacksmith or nailsmith to produce one hand-forged nail. Today, a worker can produce 3,500 nails per minute. Read More ›
You may want to try a worm with your next meal, but there is no reason to think we are running out of corn or the land to grow the food for making appetizing steaks, wings, and chops. Read More ›
Time prices offer a number of useful tools to provide additional perspectives on changes in abundance over time. Thinking in time can make much more sense than thinking in money. Read More ›
ale University economist and co-winner of the 2018 Nobel Prize in Economics, William Nordhaus, estimated that producers capture around 2.2 percent of the benefits of technological advances. That would leave 97.8 percent of those benefits to the consumers of those products. Read More ›