Why don't you think normal market mechanisms (the more scarce resource X is, the higher its price, the larger the incentives to use less, the more intense search for its replacement) will handle the problem?
"The market will handle it" is a curiousity killer rather than an explanation, no different from "God will provide". How will the market handle it? Why hasn't it done so already? How long will it take? Is it possible for the market to fail? How do we estimate the chances of failure?
If a bias or blind spot is widespread enough, the market will not be immune to it either.
The market is just another optimization process. A useful and successful one most of the time, but not to be blindly trusted any more than any other optimization process (especially an optimization process that is not understood).
Markets are prone to optimizing over a short time window. The human race won't just spontaneously opt to take the equivalent of a 10-year pay-cut to avoid dying horribly on year 11.
Markets are not invincible. They can fail to keep up with events. They may systematically under- or over-value certain items. There might simply not be an adequate solution in the part of the solution-space that is accessible by a market.
Hiding in the phrase "more intense search for its replacement" is an unknown unknown. If estimating how and whether the market will handle the problem depends on estimating the outcomes and timescales of ongoing research, that doesn't inspire much optimism.
Am I saying that the UN or some government should step in with resource quotas and compulsory sterilization? No, because centralized bureaucracies have an even worse track record. I'm just saying that magical thinking compromises our problem solving abilities, and "we are in trouble if one of us doesn't soon come up with a better plan to accelerate technology and/or limit population" is a more productive state of mind than a comforting black box like "the markets will handle it".
How about AI? Do you think normal market mechanisms (the more people want to not be turned into paperclips the larger the incentive to make a friendly AI) can be trusted to handle the friendly AI problem?
"The market will handle it" is a curiousity killer rather than an explanation
Nope, it's neither (unless you think of the market as magical, a surprisingly popular attitude).
In this context it's a forecast, a prediction of what will happen when some resource X becomes scarce. The market is a particular mechanism in a human society and "the market will handle it" is an assertion about allocation of resources under specific conditions.
No one is saying that the markets are "invincible" or any other nonsense like that. However i...
In an unrelated thread, one thing led to another and we got onto the subject of overpopulation and carrying capacity. I think this topic needs a post of its own.
TLDR mathy version:
let f(m,t) be the population that can be supported using the fraction of Earth's theoretical resource limit m we can exploit at technology level t
let t = k(x) be the technology level at year x
let p(x) be population at year x
What conditions must constant m and functions f(m,k(x)), k(x), and p(x) satisfy in order to insure that p(x) - f(m,t) > 0 for all x > today()? What empirical data are relevant to estimating the probability that these conditions are all satisfied?
Long version:
Here I would like to explore the evidence for and against the possibility that the following assertions are true:
Please note: I'm not proposing that the above assertions must be true, only that they have a high enough probability of being correct that they should be taken as seriously as, for example, grey goo:
Predictions about the dangers of nanotech made in the 1980's shown no signs of coming true. Yet, there is no known logical or physical reason why they can't come true, so we don't ignore it. We calibrate how much effort should be put into mitigating the risks of nanotechnology by asking what observations should make us update the likelihood we assign to a grey-goo scenario. We approach mitigation strategies from an engineering mindset rather than a political one.
Shouldn't we hold ourselves to the same standard when discussing population growth and overshoot? Substitute in some other existential risks you take seriously. Which of them have an expectation2 of occuring before a Malthusian Crunch? Which of them have an expectation of occuring after?
Footnotes:
1: By carrying capacity, I mean finite resources such as easily extractable ores, water, air, EM spectrum, and land area. Certain very slowly replenishing resources such as fossil fuels and biodiversity also behave like finite resources on a human timescale. I also include non-finite resources that expand or replenish at a finite rate such as useful plants and animals, potable water, arable land, and breathable air. Technology expands carrying capacity by allowing us to exploit all resource more efficiently (paperless offices, telecommuting, fuel efficiency), open up reserves that were previously not economically feasible to exploit (shale oil, methane clathrates, high-rise buildings, seasteading), and accelerate the renewal of non-finite resources (agriculture, land reclamation projects, toxic waste remediation, desalinization plants).
2: This is a hard question. I'm not asking which catastrophe is the mostly likely to happen ever while holding everything else constant (the possible ones will be tied for 1 and the impossible ones will be tied for 0). I'm asking you to mentally (or physically) draw a set of survival curves, one for each catastrophe, with the x-axis representing time and the y-axis representing fraction of Everett branches where that catastrophe has not yet occured. Now, which curves are the upper bound on the curve representing Malthusian Crunch, and which curves are the lower bound? This is how, in my opinioon (as an aging researcher and biostatistician for whatever that's worth) you think about hazard functions, including those for existential hazards. Keep in mind that some hazard functions change over time because they are conditioned on other events or because they are cyclic in nature. This means that the thing most likely to wipe us out in the next 50 years is not necessarily the same as the thing most likely to wipe us out in the 50 years after that. I don't have a formal answer for how to transform that into optimal allocation of resources between mitigation efforts but that would be the next step.