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Q: Suppose we discover another planet with plenty of resources. ( No Answer,   3 Comments )
Question  
Subject: Suppose we discover another planet with plenty of resources.
Category: Business and Money > Economics
Asked by: aster1981982-ga
List Price: $3.00
Posted: 22 Oct 2005 14:34 PDT
Expires: 21 Nov 2005 13:34 PST
Question ID: 583584
Does this discovery make economic analysis obsolete?

Request for Question Clarification by pafalafa-ga on 22 Oct 2005 15:00 PDT
We already have a planet with plenty of resources, and economic
analysis is already obsolete!

Can you clarify your question?

Thanks.

pafalafa-ga
Answer  
There is no answer at this time.

Comments  
Subject: Re: Suppose we discover another planet with plenty of resources.
From: myoarin-ga on 22 Oct 2005 16:57 PDT
 
Are you anticipating that we can move there, not all humans on earth,
just those we like?  ;)  We went through a question on just getting us
all to the moon, and it seemed improbable.  Getting to another planet,
even in our solar system would be infinitely more difficult.
Oh, or you contemplating an intergalactic petroleum pipeline ...?
Subject: Re: Suppose we discover another planet with plenty of resources.
From: mongolia-ga on 23 Oct 2005 15:59 PDT
 
All the planets and moons known in our Solar System come nowhere close
to having the earthlike resources we need to survive. It is highly
unlikely we will find any planet or moon in the Solar System which
would provide those resources (Any undiscovered bodies in our Solar
System will be small lifeless asteriods, Comets or Kuiper belt objects
all of which are totally unsuitable for sustaining Human Life)

If we do discover such a planet outside the Solar System the chances
are that it will be hundreds of years before we have the technology to
send even a small space probe there (let alone move a few humans to
the newly discovered Planet)


Regards

Mongolia
Subject: Re: Suppose we discover another planet with plenty of resources.
From: econfinacct-ga on 24 Oct 2005 23:03 PDT
 
Unlike the others that have commented, I will try to answer the
hypothetical question, instead of question the plausability of the
senario.  I assume you are refering to the economic idea of limited
resources and unlimited wants.  To answer your question, no, economic
analysis would still be relevant, because although we would have more
resources, we would have more demand than can ever be filled, just as
we do now.  Furthermore, those materials would be in raw form and we
would still have limited capacities, restricted by labor and capital, 
to make them into things that we would want.  Ultimately, all economic
ideas that are true with our current amount of raw resources would be
true with another planet full.

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