1st Edition

Optimal Economic Growth with Exhaustible Resources

By Prem C. Garg Copyright 1979
136 Pages
by Routledge

136 Pages
by Routledge

136 Pages
by Routledge

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... Read more

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

Biography

Prem C. Garg