The sharp rise in mineral use has revived concern about scarcity.
Economist John Tilton responds by analyzing recent trends in the
consumption and availability of minerals that are most integral to
the needs of modern civilization. He reminds readers that, if the
arguments about scarcity sound familiar, it is because the story of
minerals scarcity is almost as old as human history -- and so too
is substitution and technological innovation. The issue at hand is
the unprecedented acceleration in exploitation and use. Given
global population growth, rising living standards, and
environmental concerns, how seriously should today's society take
the threat of mineral exhaustion?
On Borrowed Time? provides general interest and student readers
with an accessible framework for understanding scarcity. Tilton
defines important concepts and explores the methods used to study
mineral scarcity, including physical measures of known reserves and
the total resource base, and economic measures, such as extraction
and end-user costs. He notes the increasing emphasis on the social
and environmental costs of mineral production and use, placing the
scarcity debate in context of broader concerns about sustainability
and equity. He adds a history of thought about scarcity, from
Malthus and Ricardo to Harold Hotelling, Donella Meadows, and
present-day writers.
General
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