Holes in the CornucopiaErnest Partridge • SIMON IS WRONG • Natural Resources Are Not Infinite • Simon confuses math concepts of infinite with the real world • You Cannot Use Human History to Predict Future Performance • Nature is Complex Not Mechanistic Inert Stuff • He Does Not Understand Thermodynamics • You Cannot Mine Waste Dumps for Future Resource • Nature Cannot Be Successfully Managed • He Used Bad Scholarship • He uses an American Economic Model to Predict • He dismisses those who do not agree
SCARCITY OR ABUNDANCE?Julian L. Simon • All the gloom and doom predictions serve as a scare tactic are not based on long term trends. • People around the world are living longer • Agricultural labor is declining • Raw materials are cheaper • Food is more available • Pollution is declining
ENVIRONMENTAL MYTHS • There is no populations crisis • Species extinction rate is low • History shows the world is getting better • Environment is improving not worsening
Integrating the Environment into Business PlanningThomas Hellman • Some companies are moving from end of the pipeline technology to a waste minimization policy (Bristol Meyers) • These companies look at product life cycles to eliminate needless packaging and environmentally unfriendly manufacturing systems
Cost Benefit Analysis: An Ethical CritiqueSteven Kelman • COST BENEFIT IS BASED ON THREE CONCEPTS • No act should be undertaken where cost exceeds benefits. • Cost and benefits should be expressed on the same scale. • Cost benefit analysis is important and worth the expense of gathering the data.
CRITIQUE OF COST BENEFIT ANALYSIS • In cases of safety, environment and health benefits outweigh costs • There are good reasons not place a dollar value on everything • Measure some things is not possible (Clean Air) • Method only measures cost paying for benefit not how much is paid to give up benefit • Uses a private not public good standard • Place a dollar on some things cheapens that thing (love, health, sex) • It is not justifiable to spend scare resources on collecting information related to the environment, health, safety and welfare