What crypto investors can learn from Jevons paradox
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When people hoped that more efficient steam engines would help conserve England’s limited reserves of coal, William Jevons warned of just the opposite: Greater efficiency, he predicted, would lead to even greater consumption.
He was right, of course, and his prediction became known as the Jevons paradox, which is often invoked whenever efficiency gains inspire people to use more of something.
When cars got more fuel-efficient, people drove more; when lightbulbs got more efficient, people installed more of them; when HVAC got more efficient, people built bigger houses.
But these are better described as examples of a “rebound…
