The Transition from Exhaustible to Renewable or Inexhaustible Resources

Tjalling Koopmans

Chapter 1 in Economic Growth and Resources, 1980, pp 3-11 from Palgrave Macmillan

Abstract: Abstract Allow me to begin with some simple and rather obvious remarks on the nature of the transition problem from exhaustible to renewable or inexhaustible resource use. First, a shift in resource use means also a shift in technology, because in this age resources go together with technologies that process them and put them to use. Secondly, while I have used the word ‘exhaustible’, the term ‘depletion’ is a more suitable word, in that it suggests a more gradual process. The later stages of depletion will then whenever possible call forth a substitute resource that allows society to meet the same or a similar need to that met by the resource being depleted. Finally, I will follow the model of price as a regulator that will touch off the substitution, smoothly if the degree and rate of depletion are foreseen sufficiently in advance.

Keywords: Capital Stock; Transition Problem; Resource Flow; Exhaustible Resource; Vector Path (search for similar items in EconPapers)
Date: 1980
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Working Paper: The Transition from Exhaustible to Renewable or Inexhaustible Resources (1978)
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DOI: 10.1007/978-1-349-16328-1_1

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