Asheim, GB and Buchholz, W and Withagen, C (2003) The Hartwick rule: Myths and facts. ENVIRONMENTAL & RESOURCE ECONOMICS, 25 (2). pp. 129-150. ISSN 0924-6460,
Full text not available from this repository.Abstract
We shed light on the Hartwick rule for capital accumulation and resource depletion by providing semantic clarifications and investigating the implications and relevance of this rule. We extend earlier results by establishing that the Hartwick rule does not indicate sustainability and does not require substitutability between man-made and natural capital. We use a new class of simple counterexamples (i) to obtain the novel finding that a negative value of net investments need not entail that utility is unsustainable, and (ii) to point out deficiencies in the literature.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | NATIONAL PRODUCT; SUSTAINABILITY; natural resources; sustainability; the Hartwick rule |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 19 May 2021 06:39 |
| Last Modified: | 19 May 2021 06:39 |
| URI: | https://pred.uni-regensburg.de/id/eprint/38923 |
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