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Sraffa and the revenue of the owner of non- renewable natural resources: notes on a never- ending debate
[Sraffa et le revenu du propriétaire d'une ressource naturelle non-renouvelable: notes sur un débat sans fin]

Author

Listed:
  • Yoann Verger

    (ECOSYS - Ecologie fonctionnelle et écotoxicologie des agroécosystèmes - INRA - Institut National de la Recherche Agronomique - AgroParisTech)

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.

Suggested Citation

  • Yoann Verger, 2017. "Sraffa and the revenue of the owner of non- renewable natural resources: notes on a never- ending debate [Sraffa et le revenu du propriétaire d'une ressource naturelle non-renouvelable: notes sur u," Working Papers hal-01596166, HAL.
    • Handle: RePEc:hal:wpaper:hal-01596166
    Note: View the original document on HAL open archive server: https://hal.science/hal-01596166
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    References listed on IDEAS

    as
    1. Fabio Ravagnani, 2008. "Classical Theory and Exhaustible Natural Resources: Notes on the Current Debate," Review of Political Economy, Taylor & Francis Journals, vol. 20(1), pages 79-93.
    2. Ms. Oana Luca & Diego Mesa Puyo, 2016. "Fiscal Analysis of Resource Industries: (FARI Methodology)," IMF Technical Notes and Manuals 2016/001, International Monetary Fund.
    3. Ajit Sinha, 2012. "Listen to Sraffa's silences: a new interpretation of Sraffa's Production of Commodities," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 36(6), pages 1323-1339.
    4. Sergio Parrinello, 1983. "Exhaustible Natural Resources and the Classical Method of Long-Period Equilibrium," Palgrave Macmillan Books, in: J. A. Kregel (ed.), Distribution, Effective Demand and International Economic Relations, chapter 6, pages 186-199, Palgrave Macmillan.
    5. Oana Luca & Diego Mesa Puyo, 2016. "Fiscal Analysis of Resource Industries; (FARI Methodology)," IMF Technical Notes and Manuals 16/01, International Monetary Fund.
    6. Heinz Kurz & Neri Salvadori, 1997. "Exhaustible Resources in a Dynamic Input-Output Model with 'Classical' Features," Economic Systems Research, Taylor & Francis Journals, vol. 9(3), pages 235-252.
    7. Saverio M. Fratini, 2016. "Rent as a share of product and Sraffa’s price equations," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(2), pages 599-613.
    8. Christian Bidard & Guido Erreygers, 2001. "Further Reflections on the Corn–Guano Model," Metroeconomica, Wiley Blackwell, vol. 52(3), pages 254-267, August.
    9. Ajit Sinha, 2016. "A Revolution in Economic Theory," Springer Books, Springer, number 978-3-319-30616-2, December.
    10. Dome, Takuo, 1992. "Ricardo's Theory of Tax Incidence: A Sraffian Re-interpretation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 16(1), pages 43-53, March.
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    Keywords

    non-renewable natural resource; rent; extractive industry; Sraffa; Hotelling; ressourcenaturelle non-renouvelable; rente; industrie extractive;
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