Resources in economy or resourse economics: an issue with multiple solutions

Gabriel Popescu ()
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Gabriel Popescu: Faculty of Agro-Food and Environmental Economics, The Bucharest University of Economic Studies, Romania

International Conference on Competitiveness of Agro-food and Environmental Economy Proceedings, 2015, vol. 4, 13-18

Abstract: The prospects of natural resources’ exhaustion were outlined decades ago. Since then the design of an economic rational that mirrors this physical reality fuelled restless research with patchy outcomes to be valued in policy making. Building on the case of agriculture as an economic sector that forwards the influence of natural resources to social structure there are revisited two basic economic concepts: production costs and economic value. This resulted in a reasoning that supports a paradigm shift to improve the understanding of how resource scarcity should be approached without losing the potential of economic transactions in delivering the optimum or at least rational use and management of natural resources. The proper use of concepts is highlighted in a matrix that takes in account economic level, ownership, criterion of use, economic categories and market tools.Straightforward methodology that expresses economic, social and moral values should be used to establish the main economic categories for natural resources.

Keywords: natural resource; production cost; economic value; agriculture (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:aes:icafee:v:4:y:2015:p:13-18

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