As former French President Francois Hollande once said, «The time is past when humankind thought it could selfishly draw on
exhaustible resources.
Solow, R. M. and F. Y. Wan (1976): «Extraction costs in the theory of
exhaustible resources,» Bell Journal of Economics, 359 - 370.
Shorter supply lines would require fewer freighters and trucks, the building of which also uses
exhaustible resources.
In the long run, these ways of reducing our use of
exhaustible resources and our contribution to pollution also save us money, and this can be used to meet human needs that are more urgent than our comfort.
Successful students in first semester introductory economics (at least at Wesleyan) learn that the least cost solution to
an exhaustible resource problem (we do discounting right off the bat) is to calculate a scarcity rent, apply it immediately to the price of the resource, and let it grow at the rate of interest.
Not exact matches
Unless we can get a vision that all human beings are passengers on spaceship earth, whose
resources are limited and
exhaustible, we are in trouble.
They want someone to blame rather than open up to the reality that it has been their own mindless consumption practices vis - a-vis a finite, hence
exhaustible,
resource.
ESM 204 - Economics of Environmental Management [4 units] Costello Environmental regulation (incentives, command, and control), asymmetric information (cost revelation and auditing), regulatory incidence, dynamics and discounting,
exhaustible and renewable
resources, valuation, environmental macroeconomics, trade and the environment, and comparative regulatory analysis.