RePEc: Research Papers in Economics · 1976 · 949 citations · 0 references
AgricultureEconomicsResource EconomicsDevelopment EconomicsMacroeconomicsResource ScarcityIntergenerational EquityIntergenerational Resource EquityInvestmentMineral EconomicsResource RentsResource Stock DynamicsFinite Resource EconomicsIntragenerational InvestmentLabor RentsMineral InvestmentPer Capita ConsumptionResource Allocation Across GenerationsResource Rent DynamicsResource Stock Heterogeneity
In an aggregate model where the single output is produced from the services of reproducible capital, the flows of minerals extracted from a resource stock of finite dimension, and labour, it is shown that among efficient paths, the one with current savings-investment equal to current rents from mineral usage has constant per capita consumption over time.