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Exhaustible Natural Resources and the Classical Method of Long-Period Equilibrium

In: Distribution, Effective Demand and International Economic Relations

Author

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  • Sergio Parrinello

Abstract

In the history of economic thought we find that interest in the problem of the scarcity of natural resources has ebbed and flowed: phases in which the position of those economists who tend to theorize about economic development as if it were a process essentially regulated by the accumulation of capital, technical progress and the availability of a labour force, have been followed by others in which the existence of scarce natural resources was considered by economists more representative of this phase as a limiting factor, whose final consequences for growth would be a stationary state or “crisis” of the. system.

Suggested Citation

  • 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.
    • Handle: RePEc:pal:palchp:978-1-349-17177-4_6
    DOI: 10.1007/978-1-349-17177-4_6
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    Citations

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    Cited by:

    1. Yoann Verger, 2015. "Sraffa and the environment," Working Papers hal-01186009, HAL.
    2. Tony Aspromourgos, 2004. "Sraffian research programmes and unorthodox economics," Review of Political Economy, Taylor & Francis Journals, vol. 16(2), pages 179-206.
    3. 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.
    4. Biao Huang, 2018. "An exhaustible resources model in a dynamic input–output framework: a possible reconciliation between Ricardo and Hotelling," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 7(1), pages 1-24, December.
    5. Sergio Parrinello, 2004. "The Notion of Effectual Supply and the Theory of Normal Prices with Exhaustible Natural Resources," Economic Systems Research, Taylor & Francis Journals, vol. 16(3), pages 311-322.

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