The economics of nonrenewable resources addresses some of the most problematic issues concerning the sustainability of the world economy. This comprehensive one volume collection contains forty-six of the most important and influential journal articles by some of the leading scholars in the field. Subjects included are: an introduction to the economics of nonrenewable resources; theoretical foundations for the field; nonhomogeneous resources; exploration and uncertainty; market structure; taxation and global climate change. The collection concludes with a discussion of the empirical research and the extent to which nonrenewable resources constrain economic growth as well as the consistency of the theoretical predictions of Hotelling-type models with actual economic outcomes.
With an original introduction by the editor, this collection will be an important resource for students, academics and practitioners.
Contributors include: K.J. Arrow, P. Dasgupta, J.M. Hartwick, G.M. Heal, M. Hoel, H. Hotelling, R.S. Pindyck, R.M. Solow, J.E. Stiglitz, M.L. Weitzman.
Edited by Robert Halvorsen, Professor of Economics, University of Washington, Seattle, US.