Sunday, March 7, 2010

funny.

Meet the anti-Friedman. Here's a "smart guy" but everything that he predicts is incorrect. His name is Paul Ehrlich and he's the guy who wrote the book "The Population Bomb" that the theory was billions of people would starve to death because of over crowding. He later stated that “By 1985 enough millions will have died to reduce the earth’s population to some acceptable level, like 1.5 billion people.”

He then moved on to a host of other issues that he was wrong about. You can read about some of them here. He is now on the "Climate Change" bandwagon so I'm pretty sure it's a stupid idea as well.

Here's my favorite story (from the link above):
And after a decade of being attacked or ignored by Ehrlich, Simon resolved to show Ehrlich what a joke the doomsayers were. The two never debated (Ehrlich refused, calling Simon a "fringe character"), rather he put his money were his mouth was. In 1980, when Ehrlich was still predicting imminent scarcity, Simon set up a bet wherein he would sell Ehrlich $1,000 dollars worth of any five commodities that Ehrlich chose. Ehrlich would hold the commodities for ten years. If the prices rose -- meaning scarcity -- Simon would buy the commodities back from Ehrlich at the higher price. If the prices fell, Ehrlich would pay Simon the difference. Professor Ehrlich jumped at the bet, noting that he wanted to "accept the offer before other greedy people jumped in."

In October of 1990, Ehrlich mailed Simon a check for $570.07. As Simon predicted, free markets provided lower prices and more options. Simon would have won even if prices weren't adjusted for inflation. He then offered to raise the wager to $20,000 and use any resources at any time that Ehrlich preferred. The Stanford professor was slightly less bold this time. He refused Simon's offers, mailing him only a check and a table of his calculations, with no note attached. No longer was the bet Ehrlich's way of saving Simon from greedy speculators. Looking back, Ehrlich claimed that he was "goaded into making a bet with Simon on a matter of marginal environmental importance."

What a tool.

nc

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