Author Archives: Adam Bailey

The Maximum Duration of Constant Consumption

At what rate should an essential non-renewable resource be depleted to sustain an economy for as long as possible?  Suppose the inputs of a closed economy consist of produced capital, a non-renewable resource and labour .  Output is of a … Continue reading

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An Inconvenient Truth about the Hartwick Rule

The relevance to the Hartwick Rule of depreciation of produced capital is not widely understood. Suppose the inputs of a closed economy consist of produced capital K, a non-renewable resource R and labour L.  It produces a single good which … Continue reading

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Getting to Zero Emissions

A short review of Bill Gates’ How to Avoid a Climate Disaster When someone famous for their achievements in one field of human endeavour offers opinions on some unrelated topic, it is wise to treat their views with a degree … Continue reading

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Climate Change and a Proposed Coal Mine

A proposed new coal mine in Cumbria, England has prompted vehement arguments for and against.  The underlying problems are a flawed policy framework with insufficient international coordination. To its supporters it’s a no-brainer.  The mine will produce coking coal, an … Continue reading

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