The Possibility fo Continuous Growth with Exhaustible Resources: Unknowingly an Agreement Has Been Reached, But it May not be Correct

Howard Petith (howard.petith@uab.es)

UFAE and IAE Working Papers from Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC)

Abstract: Abstract. It is the size of the elasticity of substitution that has been the central issue in the long debate over the possibility of continuous growth in the presence of exhaustible resources. This paper reviews the debate and comes to the surprising conclusion that , unnoticed by the pessimists, the optimist position has gradually evolved so that it now approximates that of the pessimists. The paper also summarises some preliminary work by the author that indicates that this common position may not be correct.

Keywords: Exhaustible resources; elasticity of substitution; innovation possibility frontier (search for similar items in EconPapers)
JEL-codes: E13 O13 O33 O41 Q30 (search for similar items in EconPapers)
Pages: 11
Date: 2002-06-28
New Economics Papers: this item is included in nep-ene
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Persistent link: https://EconPapers.repec.org/RePEc:aub:autbar:517.02

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