Superabundance

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For centuries, academia has echoed the belief that population growth leads to resource scarcity. A 2021 report claimed that the world would need 1.6 Earths to meet the demands of its growing population, a figure projected to rise to 2 by 2030. However, Tupy and Pooley challenge this notion through rigorous analysis of commodity prices over two centuries, revealing that resources have actually become more abundant as populations increased. Their findings, particularly regarding “time prices” (the time required to earn money for goods), indicate that resource abundance has outpaced population growth, a phenomenon they term “superabundance.” On average, each additional person generates more value than they consume. This counterintuitive relationship exists because more people lead to more ideas and innovations, which are tested in the marketplace, yielding solutions to shortages and driving economic growth. However, mere population growth does not guarantee superabundance; historical poverty in China and India illustrates that without freedom to think, speak, and trade, innovation stalls. To foster true abundance, individuals must be allowed to innovate and profit freely.