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investment

Energy and water: the real blue-chips

In this week's Fleeing Vesuvius article, Nate Hagens and Kenneth Mulder explain why today’s prices and costs provide a very bad basis for making investment decisions. They reflect temporary relative market scarcities rather than long-run underlying physical ones. The world needs to abandon money as its measure when determining energy and economic policy if it is to invest its scarcest, most limiting resources in the best possible way.