Category Archives: Macroeconomic Theory

Net National Product and Sustainability

Posted on May 17, 2017 by Adam Bailey

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 →

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Constant Consumption with Resource Depletion

Posted on December 14, 2016 by Adam Bailey

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 →

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