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Another win for human knowledge, which is The Ultimate Resource:
The American chestnut, prized for its timber and its crop of glossy dark nuts, once dominated Eastern forests from Maine to Georgia. The graceful trees were virtually wiped out by blight starting at the turn of the 20th century.
. . . .
Now, after years of breeding, cloning and crossbreeding, the U.S. Department of Agriculture is ready to reintroduce disease-resistant chestnuts to Eastern forests next year. President Bush just planted a 16-foot chestnut tree on the White House Grounds.
Next -- on to the American Elm!
(Links from InstaPundit.)
P.S. Prof. Donald Boudreaux comments on Julian Simon and The Ultimate Resource II:
I have long believed two things about Julian Simon. The first is that he is the most under-appreciated economist of the past century; the second is that his identification of human creativity as the ultimate resource is the most-ignored vitally important idea of the past century.
Coming to understand the power of human creativity, as understood by Simon, is intellectually transforming. The market is seen more and more as an institution that both unleashes human creativity (to create and to achieve) and leashes it (to ensure that no one person’s or group’s ideas arbitrarily crowd out or stamp out the ideas of others). Read the whole post.
posted by James DeLong @ 11:09 AM | Markets: Business, Investment & Innovation
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