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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

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  • 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.archives-ouvertes.fr/hal-01596166
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    File URL: https://hal.archives-ouvertes.fr/hal-01596166/document
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    References listed on IDEAS

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    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. Saverio M. Fratini, 2016. "Rent as a share of product and Sraffa’s price equations," Cambridge Journal of Economics, Oxford University Press, vol. 40(2), pages 599-613.
    3. Christian Bidard & Guido Erreygers, 2001. "The Corn–Guano Model," Metroeconomica, Wiley Blackwell, vol. 52(3), pages 243-253, August.
    4. Ajit Sinha, 2012. "Listen to Sraffa's silences: a new interpretation of Sraffa's Production of Commodities," Cambridge Journal of Economics, Oxford University Press, vol. 36(6), pages 1323-1339.
    5. Christian Bidard & Guido Erreygers, 2001. "Further Reflections on the Corn–Guano Model," Metroeconomica, Wiley Blackwell, vol. 52(3), pages 254-267, August.
    6. Dome, Takuo, 1992. "Ricardo's Theory of Tax Incidence: A Sraffian Re-interpretation," Cambridge Journal of Economics, Oxford University Press, vol. 16(1), pages 43-53, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

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

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