Pricing The Limits To Growth From Minerals Depletion
AbstractThis paper evaluates the loss of global welfare from exhaustion of nonrenewable resources, such as oil. The underlying methodology represents an empirical application of some recent developments in the theory of green accounting and sustainability. The paper estimates that the world loses the equivalent of about 1 percent of final consumption per year from finiteness of the earth's resources, compared with a counterfactual trajectory where global extraction of minerals is allowed to remain forever constant at today's flow rates and extraction costs. © 2000 the President and Fellows of Harvard College and the Massachusetts Institute of Technology
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Bibliographic InfoArticle provided by MIT Press in its journal The Quarterly Journal of Economics.
Volume (Year): 114 (1999)
Issue (Month): 2 (May)
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Other versions of this item:
- Weitzman, Martin L., 1999. "Pricing the Limits to Growth from Minerals Depletion," Scholarly Articles 3708467, Harvard University Department of Economics.
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