Human ingenuity is the most valuable resource. Ronald Bailey reports:
Inspired by [Julian] Simon's pioneering analyses, Marian Tupy,* editor of Human Progress at the Cato Institute, and Professor Gale Pooley from Brigham Young University-Hawaii have devised theSimon Abundance Index. Tupy and Pooley use data on 50 different commodities to track their price trajectories over the past 37 years from the World Bank and International Monetary Fund. The index measures the timeprice of commodities and change in global population to estimate overall resource abundance. They find that the planet's resources became 379.6 percent more abundant between 1980 and 2017.
At 11:00 a.m on Monday, April 22, to mark the 49th anniversary of Earth Day, the Cato Institute is holding a public event to unveil the Simon Abundance Index.
[Ronald Bailey, “Simon Abundance Index Launch on Monday at the Cato Institute,” Reason, April 19]
