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Resource and Environmental Constraints to Growth

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  • V. Kerry Smith
  • John V. Krutilla

Abstract

To evaluate conventional methods for modeling the role of natural resources in economic activities, this analysis reviews the specific attributes of past and current neoclassical models that included natural resources, considering both micro analyses of extractive firm behavior and aggregate optimal planning models, and examines conventional assumptions about constraints to economic activities including both the availability of production materials and the absorptive capacity of environmental resources. An optimal allocation of natural resources (all the original endowments of the earth) requires a conjunctive management strategy so that both the rates of extraction and waste generation are considered.

Suggested Citation

  • V. Kerry Smith & John V. Krutilla, 1979. "Resource and Environmental Constraints to Growth," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(3), pages 395-408.
    • Handle: RePEc:oup:ajagec:v:61:y:1979:i:3:p:395-408.
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    File URL: http://hdl.handle.net/10.2307/1239426
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    Cited by:

    1. Lynne, Gary D. & Carriker, Roy R., 1980. "Ecology And Economics: Differences In Philosophy," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 278468, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Leonardo J. Maldonado, 2012. "Política ambiental discrecional y bienestar social: un modelo de inconsistencia dinámica," Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), Colexio de Economistas de A Coruña, Spain and Fundación Una Galicia Moderna, vol. 1, pages 1-1, June.
    3. David Brookshire & Thomas Crocker, 1981. "The advantages of contingent valuation methods for benefit-cost analysis," Public Choice, Springer, vol. 36(2), pages 235-252, January.
    4. Horner, Gerald L. & Dudek, Daniel J., 1979. "An Analytical System For The Evaluation Of Land Use And Water Quality Policy Impacts Upon Irrigated Agriculture," Working Papers 225680, University of California, Davis, Department of Agricultural and Resource Economics.
    5. F. Mackellar & Daniel Vining, 1989. "Measuring natural resource scarcity," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 21(5), pages 517-530, October.

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