Economics Dictionary of ArgumentsHome
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| Exhaustible resources: Exhaustible resources in economics are natural resources that are finite and can be depleted, such as fossil fuels or minerals. Their availability diminishes with use, raising concerns about sustainability and the need for efficient management and conservation to ensure long-term availability._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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John Stuart Mill on Exhaustible Resources - Dictionary of Arguments
Kurz I 291 Exhaustible resources/Mill/Kurz: (…) classical economists (…) were aware of the principal exhaustibility of some resources, but they did not think that this was an imminent problem. New deposits of such resources were discovered all the time as old ones were exhausted. In addition, technical progress continuously changed the conditions of production. John Stuart Mill expressed well the classical point of View in this regard. He argued that (i) the working of exhaustible resources is similar to the working of land (a resource that is taken to be inexhaustible); (ii) in both kinds of activities there are two antagonistic forces at work - diminishing returns and improvements (technical progress); (iii) the potential for such improvements is larger in the mining and Other extraction processes than in agriculture (see Mill, 1965:495)(1). 1. Mill, J. S. (1965). Principles of Political Economy With Some of Their Applications to Social Philosophy, Ist edn 1848, edited by J. M. Robson. Toronto: University of Toronto Press. Kurz, Heinz D. and Salvadori, Neri. „Exhaustible resources, Rents, profits, royalties and prices.“ In: Kurz, Heinz; Salvadori, Neri 2015. Revisiting Classical Economics: Studies in Long-Period Analysis (Routledge Studies in the History of Economics). London, UK: Routledge._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Mill I John St. Mill A System of Logic, Ratiocinative and Inductive, London 1843 German Edition: Von Namen, aus: A System of Logic, London 1843 In Eigennamen, Ursula Wolf, Frankfurt/M. 1993 Mill II J. St. Mill Utilitarianism: 1st (First) Edition Oxford 1998 Mill Ja I James Mill Commerce Defended: An Answer to the Arguments by which Mr. Spence, Mr. Cobbett, and Others, Have Attempted to Prove that Commerce is Not a Source of National Wealth 1808 Kurz I Heinz D. Kurz Neri Salvadori Revisiting Classical Economics: Studies in Long-Period Analysis (Routledge Studies in the History of Economics). Routledge. London 2015 |
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