Exhaustible Natural Resources and the Classical Method of Long-Period Equilibrium

Sergio Parrinello

Chapter 6 in Distribution, Effective Demand and International Economic Relations, 1983, pp 186-199 from Palgrave Macmillan

Abstract: Abstract In the history of economic thought we find that interest in the problem of the scarcity of natural resources has ebbed and flowed: phases in which the position of those economists who tend to theorize about economic development as if it were a process essentially regulated by the accumulation of capital, technical progress and the availability of a labour force, have been followed by others in which the existence of scarce natural resources was considered by economists more representative of this phase as a limiting factor, whose final consequences for growth would be a stationary state or “crisis” of the. system.

Keywords: Natural Resource; Relative Prex; Extractive Industry; Profit Rate; Normal Profit (search for similar items in EconPapers)
Date: 1983
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DOI: 10.1007/978-1-349-17177-4_6

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