Modern economic practice appears to be doomed due to our artificially high discount rates on the future. Simply put, people that aren’t alive yet can’t participate in pricing at the present. This primarily effects depletion rates of things that take
This kind of stuff makes me think the next (last?) world war will surely be triggered by a tragedy of the commons scenario — most likely environmental, or possibly resource scarcity. People thought another “great war” was unthinkable after WW1,
How does every grass farmer in Norway and Sweden afford two new BMWs?