Originally published in 1989. Professor Robinson begins by
examining natural resource classification and the nature of return
in mining, giving particular emphasis to different sources of
long-run price changes in mining and their relevance for user cost
and the economic treatment for exhaustible resources. He then
traces the development of the economic theory of exhaustible
resources from the last quarter of the eighteenth century to the
first quarter of the twentieth, documenting the differing views of
various authors about the future availability of mineral resources
and the extent of user cost involved in their exploitation. He
identifies a link between the perceived availability of exhaustible
resources and the nature of the economic theory used to explain
their exploitation. This book should be of interest to students and
researchers of Economic Theory and Policy.
General
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