Julian Simon

Who was Julian Simon?

Julian Lincoln Simon was a professor of business administration at the University of Maryland and a Senior Fellow at the Cato Institute at the time of his death, after previously serving as a longtime economics and business professor at the University of Illinois at Urbana-Champaign.

Simon wrote many books and articles, mostly on economic subjects. He is best known for his work on population, natural resources, and immigration. His work covers cornucopian views on lasting economic benefits from natural resources and continuous population growth, even despite limited or finite physical resources, empowered by human ingenuity, substitutes, and technological progress. His works are also cited by libertarians against government regulation. He died at the age of 65 of a heart attack in Chevy Chase, Maryland.

He is also known for the famous Simon–Ehrlich wager, a bet he made with ecologist Paul R. Ehrlich. Ehrlich bet that the prices for five metals would increase over a decade, while Simon took the opposite stance. Simon won the bet, as the prices for the metals sharply declined during that decade.