Author Archives: Adam Bailey

UK Climate Change Policy – An Outline

Anyone who has followed the news in the UK over the last year will have heard plenty about COP26 and Extinction Rebellion, and about extreme heat, forest fires and melting ice in various parts of the world.  UK policy on … Continue reading

Posted in Climate change | Tagged , , , , , , | Leave a comment

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

Posted in Macroeconomic Theory, Mathematical Techniques, Sustainability | Tagged , , , , | Leave a comment

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

Posted in Macroeconomic Theory, Sustainability | Tagged , , , , , , | Leave a comment

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

Posted in Climate change, Energy | Tagged , , , , | Leave a comment