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Published in:
2010 | OriginalPaper | Chapter
Steady-State Sustainability under Logistically Regenerating Resources
Authors : Prof. Dr. Karl Farmer, Dr. Birgit Bednar-Friedl
Published in: Intertemporal Resource Economics
Publisher: Springer Berlin Heidelberg
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While after the first oil price shock the sustainability of economic growth under
exhaustible
resources was the main matter of concern, the Brundtland report (WCED, 1987) brought the problem of the sustainability of
renewable
resources to the attention of the world community. Given the prominence of the sustainability criterion for renewable resources, it is surprising that so little has been done to investigate the question of whether an unhampered, competitive market economy which utilizes a renewable resource both as productive input and as an asset is at all capable of generating intertemporal equilibrium paths with either an egalitarian distribution of utilities (consumption) of subsequent generations or an egalitarian distribution of resource stocks across generations (ecological sustainability).