Adjustment process (Score 1)

More important than the end result is the subject of the adjustment process. You are stating the theoretical end result that would come to be if markets were perfectly flexible and property rights were well established. But in real life things are not so perfect and well defined. That is why economist dedicate most of their time studying and optimizing the adjustment processes. It all boils down to the rate of growth of the demand for copper when compared with the rate of technological progress. If they are not very different, it will be possible for innovation to do its job. But if the growth in the demand for cooper is much greater than the rate of tech progress (which could happen due to the pervasiveness of copper in modern life and the stress new industrialized countries put on global demand of cooper), the adjustment will be harsh and long.