Criticism
Environmental economists and critics of globalized capitalism take issue with this theory for a number of reasons. Environmentalists disagree with Solow's conclusion about the role of technology because it neglects to consider the increases in exploitation of natural resources which may be responsible for much of the growth attributed to technology. Anti-globalists apply a similar argument, but tend to focus on exploitation of third world societies rather than the environment.
The theory also neglects to account for certain requisite properties of the resources in question and the development of necessary infrastructure. It may be possible to design a car to run on hydrogen, but widescale construction of a hydrogen infrastructure is a far more complex problem, especially in a scenario in which the major resource is already becoming scarce.
Read more about this topic: Backstop Resources
Famous quotes containing the word criticism:
“I, with other Americans, have perhaps unduly resented the stream of criticism of American life ... more particularly have I resented the sneers at Main Street. For I have known that in the cottages that lay behind the street rested the strength of our national character.”
—Herbert Hoover (1874–1964)
“It is from the womb of art that criticism was born.”
—Charles Baudelaire (1821–1867)