The problem with basing your entire economy and raison d’être on a constrained resource was that eventually you ran out of the resource in question. … - Jay Lake

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The problem with basing your entire economy and raison d’être on a constrained resource was that eventually you ran out of the resource in question. Decisions which had seemed canny two centuries ago during the bright days of the port’s founding and initial construction were now foolhardy in the blindingly obvious light of hindsight.