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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? | |
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There is no answer at this time. |
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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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