they chose chromium, copper chromium, copper, tin, nickel and tungsten metals a better very important in our economy if the prices would go up or down and then a hundred million people were added to the world population and whether the population grows would lead to price increases because of more demand on the resources. one of the lessons of "the bet" these simplistic measures don't count for the broader changes within the economy or the environment. then there is another complicated aspect that many people who like to talk about "the bet" don't take into account that julian simon really did get lucky with the dates that they chose and when the economist have run the numbers over the last century, they found that paul erlich would have won more than he would have lost. so taking this one example from the that that they made does not really proved that prices will always go down. >> host: reminds me if you bet on oil prices. weeks before as the president talks about expanding offshore drilling then you have a major disaster to throw off any kind of wager they would have on commoditie

we did a back-painted shower where everything in this shower was chromium green. and -- yeah. >> nice. >> and including the floors. and so it's all back-painted glass. so you don't want to -- i mean, gosh, i could slip -- you could slide on a thing like that. and so it's this non--slip glass. >> i wanted to know what kind of glass is made of -- in tanks, where you can shoot through. >> the answer is it's a laminated glass. they're using a -- but instead of laminating it with a polyvinyl beautate, they're using their own product, which is a different kind of acrylic that they've got proprietary rights on, that is more gummy, it's something that they have formed there. but it's essentially like a sheet plastic, but of a different configuration, and extra clear, that they laminate between pieces of tempered glasses. those pieces in the tanks are about that thick. and they are slanted so that they can't see glare. and what we have to do in a tank, or -- on the inside, where you are shooting from, is you have to put a laminated piece of glass or plastic to the inside.

these five metals, chromium, copper, tin, nickel, tungsten, very important metals and our economy. the question was whether the prices will go upper down and whether that was then signal that more people, i guess 800 million people are so were added to the world population of the course of a decade all of its population growth would lead to price increases because there would be more demand on the resources. and so one of the lessons is that these simplistic measures really did not account for the broader changes within the economy or within the environment. and then there is another complicated aspect of this which is many people who like to talk about the bed and talk about the victory don't necessarily take into account the fact that here really did get kind of lucky. the economists had run the numbers over the last century and more, they found that he actually would have won the bet more times than he would have lost. and so taking this one example from the bed that they made does not really prove that prices are always going to go down. >> it reminds me if you bet on oil price

see something about the debt itself which is leading the debt itself they chose these five metals, chromium, copper and nickel these are important metals in the economy and the question is whether the price would go up and down and whether that would then signal that more people, 800 million people or so were added to the population over the course of the decade but it wasn't the population growth would lead to the price increases because there would be more demand on the resources. and i think so one of the lessons of the debt is these are simplistic measures that do not account for the broad changes in the economy or within the environment. and then there is another complicated aspects of this which is that many people who like to talk about the debt and talk about victory don't necessarily taken to the fact simon really did get kind of lucky in the dates that the chose and when the economists had run the numbers over the last century or more they found that early actually would have one down on these more times than he would have lost. as a taking this one example is that it doesn't real

they chose these five metals chromium copper 10 nickel and tungsten important metals in our economy andhe question was whether it would go up or down and whether that would signal that more people, 800 million people are so were added to the world population over the course of the decade whether it would lead to price increases on the resources. one of the lessons of this bet were simplistic measures don't account for the broader changes within the economy or the environment. and then there is another aspect of this switch is that many people who like to talk about the bet and talk about simon's victory don't necessarily take into account the fact that simon really did get kind of lucky. the dates that they chose and when the communists had run the numbers over the last century or more they found ehrlich would have won the bet on these metal prices more times in the he would have lost. so taking as one example from the bet that they made, it doesn't really prove prices are always going to go down. >> host: it reminds me a few bet on oil prices. the president talked about expanding offsh