> High prices isn't a signal that we have run out, it is a signal that more mines are needed. It is likely the market will heed the signal.
It is a signal that there is a high demand, and not enough supply (whether naturally or artificially -- e.g. diamonds) to meet that demand. That's it.
Building more mines can only happen if the resources exist to mine. This idea that "the market" is a magic wand to wave at problems really needs to stop. As far as "the market" is concerned, the electric car industry could collapse because it failed to innovate past resource shortages.
It is a signal that there is a high demand, and not enough supply (whether naturally or artificially -- e.g. diamonds) to meet that demand. That's it.
Building more mines can only happen if the resources exist to mine. This idea that "the market" is a magic wand to wave at problems really needs to stop. As far as "the market" is concerned, the electric car industry could collapse because it failed to innovate past resource shortages.