Non-Renewable Resources and Disequilibrium Macrodynamics Contributor(s): Marks, Robert (Author) |
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ISBN: 1138090557 ISBN-13: 9781138090552 Publisher: Routledge OUR PRICE: $46.50 Product Type: Paperback - Other Formats Published: April 2019 |
Additional Information |
BISAC Categories: - Business & Economics | Industries - Natural Resource Extraction - Business & Economics | Environmental Economics - Business & Economics | Economics - General |
Series: Routledge Library Editions: Environmental and Natural Resour |
Physical Information: 0.75" H x 6.14" W x 9.21" (1.12 lbs) 362 pages |
Descriptions, Reviews, Etc. |
Publisher Description: This study, first published in 1979, continues by examining the question of whether a competitive economy can efficiently allocate a stock of non-renewable natural resources through time. Long-run analyses of competitive economies with such resources have concluded that, without perfect foresight or a complete set of future markets extending infinitely far into the future, there is no economic mechanism to guarantee that the initial price is set so that the economy converges to the socially desirable path of balanced growth. This title will be of interest to students of environmental and natural resource economics. |