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.
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