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Author Archives: Adam Bailey
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
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
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
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