The bet

" In 1980, the iconoclastic economist Julian Simon challenged celebrity biologist Paul Ehrlich to a bet. Their wager on the future prices of five metals captured the public's imagination as a test of coming prosperity or doom. Ehrlich, author of the landmark book The Population Bomb, predicted that rising populations would cause overconsumption, resource scarcity, and famine-with apocalyptic consequences for humanity. Simon optimistically countered that human welfare would flourish thanks to flexible markets, technological change, and our collective ingenuity. Simon and Ehrlich's debate…