My favorite economics slide is hand-drawn depiction of the Malthusian Dilemma (run-away population) growth as drawn by a 1996 Nobel Prize in Chemistry laureate, the late Richard Smalley, who co-discovered a spherical carbon structure he named buckminsterfullerene after Buckminster Fuller, a futurist who both coined the term “spaceship earth” and invented the geodesic dome. Smalley scrawled title “Technology Got Us into This” above a historical plot of the earth’s population showing the population explosion (from fewer than 1 billion people to over 7 billion in just 200 years) and hints that mankind has made a Faustian bargain with the Devil. Modern man spent roughly 150,000 years living off the land before the dawn of the industrial age, and, now, our species has “sold our soul” by being trapped in a never-ending need for an upward spiral of technology. For without continued technical evolution, we can expect shortages that will produce cataclysmic events beginning with economic collapse and ending with potential extinction.
Continue reading →