Category Archives: Macroeconomic Theory

Net National Product and Sustainability

National product, calculated net of a deduction for depletion of natural resources, could in theory provide some indication of whether current consumption is permanently sustainable.  But the conditions that would be needed to make net national product into a practical … Continue reading

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

Constant Consumption with Resource Depletion

I present here a defence of the following proposition: to maintain consumption per person in the long run as non-renewable resources are increasingly depleted, the world needs technical progress so that we can obtain more output from available resources.  The … Continue reading

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