BIOPHYSICAL LIMITS TO ECONOMIC GROWTH:
The Neoclassical Economic Perspective
learning objectivesAfter reading this chapter you should be familiar with the following:
|• fundamental premises of the neoclassical economic perspective of natural resource scarcity; |
|• why neoclassical economists are skeptical about the gloom-and-doom prophecies of the Malthusian variations; |
|• why the finiteness or absolute scarcity of natural resources should not be viewed as an ultimate deterrent to continued economic growth; |
|• the significance of differentiating between “general” and “specific” natural resource scarcity; |
|• the empirical evidence against the classical doctrine of increasing resource scarcity over time; |
|• some of the major criticisms of the neoclassical economists ‘empirical evidence for increasing natural resource abundance and their unguarded optimism concerning continued rapid resource-saving technical progress; |
|• the neoclassical perspectives of population and environmental problems. |
Questia, a part of Gale, Cengage Learning. www.questia.com
Book title: Principles of Environmental Economics:Economics, Ecology and Public Policy.
Contributors: Ahmed M. Hussen - Author.
Place of publication: London.
Publication year: 2000.
Page number: 134.
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