Not destroying the earth… Depth
Question. Why do we dig holes in the earth for natural resources? To make all the stuff you use everyday, silly! So, do you know how deep we’ve dug into the earth to get all the stuff to make all of your stuff? It turns out that we’ve only scratched the surface! The deepest mine ever dug was only 2.4 miles deep. That may sound pretty deep, but when you consider that the diameter of the earth is 7918 miles, it’s pretty obvious we’ve barely even made a dent!
How deep have we really dug?
Let’s put this into a bit more perspective. Imagine the earth was a ball with a diameter of 3.28ft. That’s about the size of a big exercise ball! If we dug down to the same depth as the deepest mine ever dug, it would be less than the thickness of 3 sheets of paper! That’s not very deep at all!
The importance of economic value
This is a great example of Austrian economics. One of the main ideas in Austrian economic theory is the concept of economic value. This means that something is only valuable if wants or needs it. Let’s say you’re thirsty. A glass of water would be very valuable. But if you’re not thirsty, that same glass of water won’t have a lot of value to you.
The importance of Austrian economic theory
Understanding Austrian economics is important because it helps us understand how the world works. It teaches us about the value of resources, and how people make choices based on their own wants and needs. It also helps us understand how best to use those resources for the benefit of the most people.
How can we use the resources we have?
Just because we haven’t dug very deep into the earth doesn’t mean we should waste the resources we have. In fact, one of the key principles of Austrian economics is to use resources efficiently. Here are some ways we can use the resources we have:
- Recycle – instead of throwing things away, we can recycle them so that they can be used again.
- Reuse – instead of buying new things, we can reuse things we already have. For example, we can use old clothes to make rags or use plastic containers to store food.
- Reduce – we can reduce the amount of resources we use by being more mindful of our consumption. For example, we can turn off the lights when we leave a room or use a reusable water bottle instead of buying disposable plastic one.
In conclusion, digging deep into the earth is not as destructive as some people might think. We’ve only dug down 0.027 percent of the diameter of the earth to get the resources we need to make all our stuff. And we keep inventing ways to get that stuff more and more efficiently. So don’t worry, the earth is not in danger of being destroyed. We haven’t made a dent!
Remember, it’s through knowledge and innovation that we find more and more solutions to solve more and more problems. This makes life better and better!