Sraffa and the revenue of the owner of non- renewable natural resources: notes on a never- ending debate

Sraffa et le revenu du propriétaire d'une ressource naturelle non-renouvelable: notes sur un débat sans fin

Yoann Verger ()
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Yoann Verger: ECOSYS - Ecologie fonctionnelle et écotoxicologie des agroécosystèmes - INRA - Institut National de la Recherche Agronomique - AgroParisTech

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Abstract: A rich literature exists about the way to handle non-renewable natural resources in the context of classical theory. This article sums up the different approaches that we could consider when we calculate the revenue of the owner of a non-renewable natural resource in a Sraffian framework. It clarifies the concepts of differential rent, depreciation of wasting assets, Hotelling rent, and rent as a share of the product, and links this last concept with some empirical facts about non-renewable natural resource extraction industries.

Keywords: non-renewable natural resource; rent; extractive industry; Sraffa; Hotelling; ressourcenaturelle non-renouvelable; rente; industrie extractive (search for similar items in EconPapers)
Date: 2017-09-27
New Economics Papers: this item is included in nep-ene, nep-env, nep-hme, nep-hpe and nep-pke
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