The Peculiar Blindness of Experts

In his 1968 best seller, The Population Bomb, Ehrlich insisted that it was too late to prevent a doomsday apocalypse resulting from overpopulation. Both men agreed that commodity prices were a fine proxy for the effects of population growth, and they set the stakes at $1,000 worth of Ehrlich’s five metals. If, 10 years hence, prices had gone down, Ehrlich would have to pay the difference in value to Simon.

Source: www.theatlantic.com