The Hartwick Rule: Myths and Facts

Geir Asheim, Wolfgang Buchholz () and Cees Withagen

Environmental & Resource Economics, 2003, vol. 25, issue 2, 129-150

Abstract: We shed light on the Hartwick rule for capital accumulation and resource depletion by providing semantic clarifications and investigating the implications and relevance of this rule. We extend earlier results by establishing that the Hartwick rule does not indicate sustainability and does not require substitutability between man-made and naturalcapital. We use a new class of simple counterexamples (i) to obtain the novel finding that a negative value of net investments need not entail that utility is unsustainable, and (ii) to point out deficiencies in the literature. Copyright Kluwer Academic Publishers 2003

Keywords: natural resources; sustainability; the Hartwick rule (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (62)

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Working Paper: The Hartwick Rule: Myths and Facts (2002)
Working Paper: The Hartwick Rule: Myths and Facts (2002)
Working Paper: The Hartwick Rule: Myths and Facts (2000)
Working Paper: The Hartwick rule: myths and facts (2000)
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DOI: 10.1023/A:1023909217989

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