Growth on a Finite Planet: Resources, Technology, and Population in the Long Run

Pietro Peretto and Simone Valente

No 13-9, Working Papers from Duke University, Department of Economics

Abstract: We study the interactions between technological change, resource scarcity and population dynamics in a Schumpeterian model with endogenous fertility. We find a pseudo-Malthusian equilibrium in which population is constant and determined by resource scarcity while income grows exponentially. If labor and resources are substitutes in production, income and fertility dynamics are self-balancing and the pseudo-Malthusian equilibrium is the global attractor of the system. If labor and resources are complements, income and fertility dynamics are self-reinforcing and drive the economy towards either demographic explosion or collapse. Introducing a minimum resource requirement per capita, we obtain constant population even under complementarity.

Keywords: Endogenous Innovation; Resource Scarcity; Population Growth; Fertility Choices (search for similar items in EconPapers)
JEL-codes: E10 L16 O31 O40 (search for similar items in EconPapers)
Pages: 54
Date: 2013
New Economics Papers: this item is included in nep-age, nep-dem, nep-dge and nep-mac
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Growth on a finite planet: resources, technology and population in the long run (2015)
Working Paper: Growth on a Finite Planet: Resources, Technology and Population in the Long Run (2011)
Working Paper: Growth on a Finite Planet: Resources, Technology and Population in the Long Run (2011)
Working Paper: Growth on a Finite Planet: Resources, Technology and Population in the Long Run (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:duk:dukeec:13-9

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