Optimal Economic Growth with Exhaustible Resources: 1st Edition (e-Book) book cover

Optimal Economic Growth with Exhaustible Resources

1st Edition

By Prem C. Garg

Routledge

132 pages

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Paperback: 9781138103184
pub: 2019-04-30
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Hardback: 9781138103153
pub: 2017-10-19
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pub: 2017-10-17
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Description

Originally published in 1979. For decades conservationists have argued that increasing population will eventually out-strip the limited natural resources of the earth. Economists have responded by saying that any resource scarcity will be forestalled by changes in tastes and technology, induced by the appropriate price signals. This study is an attempt to develop a theoretical framework for analysing some of the issues related to this debate. Using an optimal growth theory framework, the author analyses the problem of optimally allocating a finite stock of the resource over time. In the process the author points out the crucial parameters and value judgments relevant to the various issues. This title will be of interest to students of environmental economics.

Table of Contents

1. Introduction and Overview 2. Model Description and Optimality Conditions 3. Optimal Growth Paths for Cobb-Douglas Technologies 4. Optimal Growth Paths Under Max-Min Welfare Functional 5. Conclusions

About the Series

Routledge Library Editions: Environmental and Natural Resource Economics

The volumes in this set, originally published between 1972 and 2000, draw together research by leading academics in the area of environmental and natural resource economics, and provides a rigorous examination of related key issues. The volumes examine pollution control and policy, and renewable and non-renewable resource economics, whilst also exploring the general principles and practices of environmental economics in various countries. This set will be of particular interest to students of economics and geography.

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS069000
BUSINESS & ECONOMICS / Economics / General
BUS099000
BUSINESS & ECONOMICS / Environmental Economics
NAT038000
NATURE / Natural Resources