Wolf Casts Doubt on the Assumption That the Extinction of Humanity

question 158

Essay

Wolf casts doubt on the assumption that the extinction of humanity in the distant future does not undermine the value of our projects in the way the prospect of a more imminent extinction seems to. What are the grounds of Wolf's doubt? Do you find them convincing? Why or why not?

---

Definitions:

Labor

The work performed by humans that is used in the production of goods and services.

Diminishing Marginal Returns

An economic principle stating that as one factor of production increases while others remain constant, the incremental gains in output will eventually decrease.

Input

Resources such as labor, materials, and capital used in the production of goods and services.

Average Fixed Cost

The fixed costs of production (costs that do not change with the level of output) divided by the quantity of output produced.