Tag Archives: Hotelling rule

A Difficulty in Assessing Sustainability

Posted on September 9, 2017 by Adam Bailey

Long-term forecasting of the aggregate production function is essential for assessing sustainability, but very difficult. Is our current living standard sustainable?  Or does depletion of non-renewable natural resources such as fossil fuels and metal ores mean that it must eventually … 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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