As a follow-up to my earlier post on the limits to growth, it's worth noting this report released late last year by the McKinsey Global Institute. The report is an extended discussion on some of implications of the first of the two points on which I ended my post – that after a long period of falling prices appearing to signal easing resource constraints, recent trends look quite different:
There's a lot of material here, including some interesting bits relevant to the race between the cost-increasing effects of resource depletion and the cost-reducing effects of innovation:
