Sraffa and the Revenue of the Owner of Non-Renewable Natural Resources: A Note on the Literature
Yoann Verger ()
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Yoann Verger: UMR ECOSYS, INRA, AgroParisTech, Université Paris-Saclay
Chapter Chapter 17 in A Reflection on Sraffa’s Revolution in Economic Theory, 2021, pp 537-559 from Palgrave Macmillan
Abstract A rich literature exists about the way to handle non-renewable natural resources in the context of classical theory. This article sums up the different approaches that we could consider when we calculate the revenue of the owner of a non-renewable natural resource in a Sraffian framework. It clarifies the concepts of differential rent, depreciation of wasting assets, Hotelling rent, and rent as a share of the product, and links this last concept with some empirical facts about non-renewable natural resource extraction industries.
Keywords: Sraffa; Non-renewable natural resource; Rent; Hotelling; Extractive industry (search for similar items in EconPapers)
JEL-codes: B24 B51 Q31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-030-47206-1_17
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