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American economist and author From Wikipedia, the free encyclopedia
Gale L. Pooley is an American economist, professor, and author, recognized for his work in economics and real estate valuation. Dr. Gale Pooley is currently a professor of economic history at Utah Tech University. He previously held a position as Associate Professor at Brigham Young University–Hawaii[2][3] (BYU-Hawaii), where he taught in the Department of Business and Government as the lead for the economics program. His academic career also includes teaching positions at Alfaisal University[4] in Riyadh, Brigham Young University–Idaho, Boise State University, and the College of Idaho,[5] in the fields of business, statistics, and economics. Pooley holds professional designations from the Appraisal Institute, the Royal Institution of Chartered Surveyors, and the CCIM Institute.[2] Pooley is renowned for his contributions to the field of economics, particularly through his work on the concept of abundance and population growth.
 | This article contains promotional content. (September 2024) |
Dr. Gale L. Pooley | |
|---|---|
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| Born | |
| Nationality | American |
| Education |
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| Occupation(s) | Economist, Professor, Author |
| Known for | Superabundance, Simon Abundance Index |
| Notable work | Superabundance Pooley-Tupy theorem |
| Spouse | DeAnna Pooley |
| Children | 7 |
| Website | www |
Pooley earned a BBA in Economics from Boise State University, pursued graduate work at Montana State University, and completed his Ph.D. at the University of Idaho.[5] His dissertation examined the knowledge acquisition preferences of CEOs within the Inc. 500.[6] In 1986, he founded Analytix Group,[7] a real estate valuation and consulting firm, which has conducted over 5,000 appraisals in the U.S. and Saudi Arabia.[6] He has also developed commercial and residential properties and served as a certified developer for Apple Inc.[2] Pooley is the founding board member of North Star Charter School in Eagle, Idaho,[8] which he created for his seven children. Pooley served in the United States Marine Corps.[2]
Before his tenure at Utah Tech University, Pooley taught at BYU-Hawaii,[9] where he was actively involved in research that would later culminate in his influential book Superabundance, refining his ideas through his lectures. At BYU-Hawaii, he was known for his engagement with students, serving as the faculty supervisor for the Economics Club.[3][9] Pooley is a Senior fellow with the Discovery Institute,[6] an Adjunct Scholar at the Cato Institute,[2] a Grassroot Scholar at the Grassroot Institute of Hawaii,[10] serves on the Foundation for Economic Education Faculty Network, and as a board member of HumanProgress.org.[11]
His major research includes the Simon Abundance Index,[12][13] co-authored with Marian Tupy, which uses the "time prices" of 50 basic commodities to estimate the relationship between global population growth and resource abundance.[14] This work argues against the conventional view that increasing population leads to resource scarcity.
Pooley's work is built upon the Pooley-Tupy theorem which measures the growth in knowledge resources over time with time prices.
In addition to writing his own Substack articles entitled Gale Winds,[15] Pooley has written for and been published by Forbes, National Review, HumanProgress, The American Spectator, Foundation for Economic Education, The Utah Bar journal, The Appraisal Journal, Quillette, and Real Clear Markets.[16] He has presented at FreedomFest, on C-SPAN,[17] and the COSM Technology conference. Pooley is also a member of the Mont Pelerin Society.[6]
The Story of Population Growth, Innovation, and Human Flourishing on an Infinitely Bountiful Planet is a 2022 book by Pooley and Marian Tupy. The book presents an optimistic, anti-malthusianism perspective on population growth and resource availability, challenging conventional views on scarcity and environmental degradation.
Superabundance challenges the widespread belief that population growth leads to resource depletion and environmental harm. Instead, Pooley and Tupy argue that human ingenuity and technological advancements have continuously increased the availability of goods and improved living standards. They assert that human beings are the greatest sources of capital in the world, and that the knowledge they generate exponentially increases resource abundance when applied to resources.
The book introduces the concept of "time price" to demonstrate how commodities have become more accessible and abundant over time. This concept shows that the driver of time price is the knowledge applied to physical resources, arguing that the difference between our time and the Stone Age lies in how we apply knowledge to matter.[18] A concept also written about by César Hidalgo.[19]
Time Prices: A central concept in Superabundance is "time price" (Pooley-Tupy theorem) which measures the cost of goods in terms of the amount of labor required to obtain them. By tracking the decrease in time prices, the authors demonstrate that goods have become more accessible and affordable, even as populations have grown. This decline in time prices underscores the increasing abundance of resources over time.
Simon Abundance Index: The book builds on the authors' earlier work with the Simon Abundance Index, which tracks resource availability over time. The index reveals that resources have become more abundant due to innovation and technological progress, contrary to claims of scarcity. Superabundance expands on this work by analyzing hundreds of commodities, goods, and services over several centuries, showing that resource abundance has increased faster than population growth—a phenomenon the authors term "superabundance."[20][21]
Focus on Knowledge: Pooley and Tupy emphasize that the primary driver of increased abundance is not the quantity of physical resources but the application of knowledge. Unlike other forms of capital, knowledge grows exponentially as it is shared and applied. The authors argue that the difference between the modern world and the Stone Age lies in our vastly expanded knowledge base and our ability to apply it to existing resources. Pooley uses the analogy of a piano, where the 88 keys represent resources, and the infinite number of songs represent the limitless possibilities created by human knowledge.
Human Capital: The book posits that humans are the greatest form of capital, whose value increases with knowledge. This growing pool of knowledge allows for more efficient use of resources and innovation, contributing to overall superabundance. The authors illustrate that, on average, each additional human creates more value than they consume, supporting their view that economics is "the study of how human beings create value for one another."
Challenge to Paul Ehrlich: Superabundance critically examines the theories of Paul Ehrlich, who predicted that overpopulation would lead to widespread resource shortages and environmental crises.[22] The book references the famous Simon–Ehrlich wager, where Julian Simon bet Ehrlich that increased population would not lead to resource scarcity. Pooley and Tupy extend this wager by examining 50 commodities over 40 years, showing that resources have become more abundant as the population has grown.[23]
Refutation of Thanos Theory: The book also addresses fictional representations of scarcity, such as the character Thanos from the Marvel Cinematic Universe, who believes reducing the population is a solution to resource depletion.[24] Pooley and Tupy argue that real-world evidence shows that more people contribute to greater innovation and increased abundance, countering the Malthusian idea that population control is necessary.
Freedom: A crucial element in Superabundance is the role of freedom and free markets in fostering innovation and abundance. The authors argue that for people to innovate, they must be free to think, speak, publish, associate, and disagree. They must also be free to save, invest, trade, and profit. This freedom is essential for the continued growth of knowledge and, consequently, resource abundance.
The book begins by contrasting humanity's historical propensity toward pessimism with the generally improving state of the world. Despite persistent fears of apocalyptic outcomes due to population growth, the authors argue that the world has seen significant progress.
In the second part, the book empirically tests concerns over population growth and resource abundance using the Tupy-Pooley Resource Abundance Framework. This framework measures the change in abundance relative to changes in wages, both on a personal level (the size of a slice of pizza per person) and on a population level (the size of the entire pizza pie). The authors found that resource abundance has grown significantly over time, often outpacing population growth, leading to the condition they term "superabundance."
The third part of the book explores the reasons for this growth in abundance. The authors emphasize the importance of human cooperation, innovation, and knowledge accumulation in driving economic expansion. They argue that liberalism, openness, and inclusivity have historically allowed human ingenuity to flourish, freeing an ever-growing share of the world's population from the Malthusian trap.
However, the authors caution against the rise of extreme environmentalism, which they argue is anti-natalist, anti-humanist, anti-growth, and anti-progress. They warn that this ideology could lead to significant human rights abuses and hinder the continued growth of abundance.
In conclusion, Superabundance argues that the future of human flourishing depends on maintaining population growth, defending freedom of expression, and protecting free markets from overregulation. The authors believe that these elements are crucial for generating the new ideas necessary to tackle current and future challenges.
The book Superabundance has received wide acclaim, at the time of release it was the #1 New Best Seller on Amazon.[9] The book has gained significant attention, including being cited on the floor of the U.S. Senate by Senator Rand Paul.[25] Pooley was interviewed on C-SPAN about the book Superabundance.[26] Pooley and co-author Marion Tupy were interviewed by Jordan Peterson after the books release.[27] The book has been reviewed by The Wall Street Journal,[28] Forbes,[29][30] The Economist,[31][32] and many other online and printed publications, as well as podcasters and content creators. Its arguments have sparked discussions on the positive impacts of population growth and the role of human creativity in overcoming challenges related to resource scarcity. Journalist John Stossel did a video segment featuring co-author Marian Tupy about the book Superabundance.[33]
The book has received positive independent reviews from Nobel laureates Paul Romer and Angus Deaton, as well as from author Steven Pinker, Washington Post columnist George Will, Harvard professor Jason Furman, author economist William Easterly, Balaji Srinivasan, Andrew McAfee, and many others.[21]
The book received the Julian L. Simon Memorial Award from the Competitive Enterprise Institute in 2023.[34] The book also received the Leonard E. Read Book Award from Freedom Fest in 2024.[35] The book was a two-time finalist for the F. A. Hayek Award from the Manhattan Institute.[36] [37]
Pooley and his wife DeAnna are parents to seven children. Their family life is an integral part of his personal and professional identity. Pooley has said that being LDS has been instrumental in developing his world view. Influences and favorite authors include Jordan Peterson, Thomas Sowell, Deirdre McCloskey, George Gilder, Friedrich Hayek and Julian Simon.[38]
Pooley's work continues to influence discussions on economic abundance, resource management, and the effects of population growth. His research and publications provide a compelling case for the potential benefits of human ingenuity and population growth in creating a more abundant and prosperous world.
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