Public policy and future mineral supplies

John Tilton (), Phillip C.F. Crowson, John H. DeYoung, Roderick Eggert, Magnus Ericsson, Juan Ignacio Guzmán, David Humphreys, Gustavo Lagos, Philip Maxwell, Marian Radetzki, Donald A. Singer and Friedrich-W. Wellmer

Resources Policy, 2018, vol. 57, issue C, 55-60

Abstract: A widespread and pessimistic view of the availability of mineral commodities calls for strong government initiatives to ensure adequate future supplies. This article provides a more market oriented and optimistic perspective, one that focuses on production costs and prices rather than physical availability. It sees short-run shortages continuing to plague commodity markets in the future as in the past. Though painful while they last, these shortages are temporary and do not pose a serious long-run threat to human welfare. Moreover, even without government intervention, they self-correct. The sharply higher prices that they evoke create strong incentives that foster supply and curb demand.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:57:y:2018:i:c:p:55-60

DOI: 10.1016/j.resourpol.2018.01.006

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