Natural resource scarcity: empirical evidence and public policy

Journal Article · Mon Sep 01 04:00:00 EDT 1980 · J. Environ. Econ. Manage.; (United States)

DOI:https://doi.org/10.1016/0095-0696(80)90006-6· OSTI ID:7077129

Johnson, M H ^[1]; Bell, F W; Bennett, J T

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1. George Mason Univ., Fairfax, VA

New evidence updates and expands the empirical analysis of natural resource scarcity published in 1963 by Harold Barnett and Chandler Morse (Scarcity and Growth: The Economics of Natural Resource Availability, Johns Hopkins Press). Unit-extraction costs are measured for all extractive products, four major subgroups (agriculture, minerals, forestry, and fishing), and selected individual commodities. The efficacy of the unit-cost measure of resource scarcity is addressed and a critique of alternative scarcity indicators is provided. Unit cost appears to be the most practical scarcity index because there are adequate checks against its theoretical shortcomings and data are readily available that contain fewer deficiencies than other indexes. On the basis of the Barnett and Morse definition of relative scarcity, the empirical evidence does not support the need for public actions justified solely on the basis of increasing resource scarcity. 15 references, 5 tables.

• OSTI ID: 7077129
• Journal Information: J. Environ. Econ. Manage.; (United States), Journal Name: J. Environ. Econ. Manage.; (United States) Vol. 7:3; ISSN JEEMD
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290400* -- Energy Planning & Policy-- Energy Resources
ECONOMETRICS
ECONOMIC ANALYSIS
ECONOMICS
PUBLIC POLICY
RESOURCE DEPLETION
RESOURCE DEVELOPMENT