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The Transition from Exhaustible to Renewable or Inexhaustible Resources

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Abstract

Allow me to begin with some simple and rather obvious remarks on the nature of the transition problem from exhaustible to renewable or inexhaustible resource use. First, a shift in resource use means also a shift in technology, because in this age resources go together with technologies that process them and put them to use. Secondly, while I have used the word ‘exhaustible’, the term ‘depletion’ is a more suitable word, in that it suggests a more gradual process. The later stages of depletion will then whenever possible call forth a substitute resource that allows society to meet the same or a similar need to that met by the resource being depleted. Finally, I will follow the model of price as a regulator that will touch off the substitution, smoothly if the degree and rate of depletion are foreseen sufficiently in advance.
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  • Tjalling C. Koopmans, 1978. "The Transition from Exhaustible to Renewable or Inexhaustible Resources," Cowles Foundation Discussion Papers 486, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:486
    Note: CFP 533.
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    File URL: https://cowles.yale.edu/sites/default/files/files/pub/d04/d0486.pdf
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    1. William D. Nordhaus, 1973. "The Allocation of Energy Resources," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(3), pages 529-576.
    2. Heal, Geoffrey M., 1993. "The optimal use of exhaustible resources," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 18, pages 855-880, Elsevier.
    3. Harold Hotelling, 1931. "The Economics of Exhaustible Resources," Journal of Political Economy, University of Chicago Press, vol. 39(2), pages 137-137.
    4. Partha Dasgupta & Geoffrey Heal, 1974. "The Optimal Depletion of Exhaustible Resources," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 3-28.
    5. Alan S. Manne, 1974. "Waiting for the Breeder," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 47-65.
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    1. Willi Semmler & Malte Sieveking, 1994. "On the optimal exploitation of interacting resources," Journal of Economics, Springer, vol. 59(1), pages 23-49, February.

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