A bet on the future of scarcity ended with a $576 check

In 1980, economist Julian Simon challenged biologist Paul Ehrlich to bet on whether resources were running out. Ehrlich picked five metals — chromium, copper, nickel, tin and tungsten — betting their prices would rise as the world used more of them. A decade later, every single one had fallen in real terms, and Ehrlich mailed Simon a check for $576.07. The wager became a touchstone in the argument over whether human ingenuity outpaces resource scarcity.

— Wikipedia contributors, Simon–Ehrlich wager — Wagered 29 September 1980, settled 29 September 1990