About Economic Droplets
An environmental and natural resource economics blog by Adam Bailey (below). For details and profile see About.
© Adam Bailey and Economic Droplets, 2012-2022.
Tag Archives: 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
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