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Green CapitalA New Perspective on Growth$
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Christian de Perthuis and Pierre-André Jouvet

Print publication date: 2015

Print ISBN-13: 9780231171403

Published to Columbia Scholarship Online: May 2016

DOI: 10.7312/columbia/9780231171403.001.0001

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PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 18 September 2021

Hotelling

Hotelling

Beyond the Wall of Scarcity

Chapter:
(p.55) 6 Hotelling
Source:
Green Capital
Author(s):

Christian de Perthuis

Pierre-André Jouvet

, Michael Westlake
Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231171403.003.0007

Systemic climate change risk is not taken into account by Hotelling rents, which traditionally price the scarcity of natural resources, thereby compelling economic agents to constantly push back the wall of scarcity. In concrete terms, this means that economic decisions do not at present incorporate the value associated with the climate’s regulatory function.

Keywords:   Exhaustion of resources, optimal exploitation of a non-renewable resource, Hotelling rent

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