Monday, June 27, 2011

Cavemen Had More Resources Than We Do, Yet They Weren't Rich

Cavemen had more resources per person than we do today (this has to be true right, since we have used up so many resources since then and we have alot more people). Yet they don't seem to have been rich. So it means that know how and imagination are keys to getting rich, not just resources.

See Quote of the Day: Thomas Sowell on the Cavemen at "Carpe Diem."
"At Cafe Hayek, Don Boudreaux quotes economist Julian Simon:
“Natural resources are not finite in any meaningful economic sense, mind-boggling though this assertion may be. The stocks of them are not fixed but rather are expanding through human ingenuity.”

Here's a related quote about natural resources from economist Thomas Sowell in his book "Knowledge and Decisions":

"The cavemen had the same natural resources at their disposal as we have today, and the difference between their standard of living and ours is a difference between the knowledge they could bring to bear on those resources and the knowledge used today." "

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