Hotelling, Rawls, Solow: How Exhaustible Resources Came to Be Integrated into the Neoclassical Growth Model

Guido Erreygers

History of Political Economy, 2009, vol. 41, issue 5, 263-281

Abstract: Exhaustible resources were integrated into the neoclassical growth model in the early 1970s. This happened partly as a reaction to various reports focusing on the limits to growth. At a deeper level, the debate on Rawls's theory of justice in an intergenerational context and Hotelling's economics of exhaustible resources were crucial inputs. This paper concentrates on Solow's contribution to the integration. It also traces its influence on the economics profession, focusing on the Hartwick rule and the way in which economists think about sustainability.

Keywords: neoclassical; growth; model (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://hope.dukejournals.org/content/41/Suppl_1/263.full.pdf+html link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hop:hopeec:v:41:y:2009:i:5:p:263-281

Access Statistics for this article

History of Political Economy is currently edited by Kevin D. Hoover

More articles in History of Political Economy from Duke University Press Duke University Press 905 W. Main Street, Suite 18B Durham, NC 27701.
Bibliographic data for series maintained by Center for the History of Political Economy Webmaster ().