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[–] ForTheUltimate ago  (edited ago)

Since you can't learn past your level.

Perhahps you can atleast explain why

'' economy based on natural resource exploitation, which is already a thing of the past. It was basically people picking the low hanging fruit, which was plentiful and widespread (agriculture in new lands, cash crops, logging, minerals, oil, etc.), that can't be done again.''

Why that is.

screaming "muh counterexample".

A single counter example disproves your theory. All your other examples do not disprove my theory.

All the good progress in economics tha tI know of was made through logic, not observation. You would be a fool to try empiricism in a science where you cannot run controlled experiments on the scale of your theories. Only a delusional would place empiricism ahead of rationalism.

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[–] CanIHazPhD ago 

It's funny that you accuse me of no being able to learn past my level while not realizing why a natural resource based growth in the economy can't be repeated. Are you daft? Don't you realize that there are, for example, shallow oil reservoirs, higher yield mineral deposits, ancient forests, etc.? Don't you realize that you require much less energy and technology to extract those resources, and when you do you can't do it again?

And no, one counterexample does not disprove my theory, that's as stupid as saying that a bird disproves gravity. In the same way aerodynamics explain birds flying against gravity, abundance of natural resources explain the staving off of the pernicious effects of deflation.

And for the third point, you got it completely backwards, only a delusional would favor theory over empiricism in a field when you can't possibly model even the most shallow of complexities, where even the most advanced models are ridiculously simplified. Where most interactions are so complex they have to be neglected. Empiricism is the way to go in economics, not theory.

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[–] ForTheUltimate ago 

why a natural resource based growth in the economy can't be repeated. Are you daft?

No you are. I'm asking how the fact that the economy is natural resource based or not affects growth and price deflation. and I won't read the rest for now