In 1990, economist Julian L. Simon won a decadelong bet with biologist Paul R. Ehrlich about the price trends of key commodities, discrediting Ehrlich's environmental alarmism over the limits of human progress. But there are deeper moral lessons in Simon and Ehrlich's bet, argues Yale University associate professor Paul Sabin. "Neither biology nor economics can substitute for the deeper ethical question: what kind of world do we want to live in?" he writes.

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