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THINK - The Economics of Change | Institute of Economic Affairs

THINK - The Economics of Change | Institute of Economic Affairs.

I thought some of you might like to watch in full the talk at the IEA's "Think" conference last year that was referenced in my previous post. Dr Stephen Davis, the IEA's Director of Education, talks about driverless cars, 800 year life-spans and (which I forgot to mention, but is fascinating in its own right) "vertical farming".  

Apparently, and here's a fact to confuse a libertarian, the war on drugs has led to advances in horticulture. Driven underground, those cultivating illegal drugs have developed techniques that could lead, if more widely applied, to mankind feeding itself using 10% of the land currently being farmed. Great areas of the planet could be returned to prairie, steppe or forest. Of course it's also possible that we will simply feed ten times the number of humans from the same land and/or (I suppose, deviating imaginatively from Dr Davis's script) use these techniques to colonise other planets.

Libertarians foxed by the idea that suppressing an activity can enhance its efficiency will take cheer from the fact that these advances have only become available because several US states have legalised cannabis – at least as "medical marijuana". As the marijuana farms become public, other growers can both marvel at and copy the innovations the former criminals made in secret.