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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: 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)
Date: 2021
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DOI: 10.1007/978-3-030-47206-1_17

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