TY - UNPB
T1 - Natural Resources and Technologies
AU - Quadrio Curzio, Alberto
AU - Pellizzari, Fausta
AU - Zoboli, Roberto
PY - 2011
Y1 - 2011
N2 - This Working Paper joint two previous article by the authors:
The economic theory of exhaustible natural resources, in
“Enciclopedia degli Idrocarburi”, vol. IV, Istituto della Enciclopedia
Treccani, Roma, 2008, pp. 3-10;
Technological innovation, relative scarcity, investments, in
“Enciclopedia degli Idrocarburi”, vol. IV, Istituto della Enciclopedia
Treccani, 2008, pp. 11-22
In the first one (cap. 1-4), we consider the contribution of economic
theory (partly through a reevaluation of history) in order both to
interpret and predict events, and to identify economic policies; this
happens especially when the world economy feels the significant
constraints imposed by some natural resources and raw materials,
partly due to the rapid growth of a number of developing countries,
and when there is an urgent need to increase resources rapidly to
ensure continuing availability.
Even if the problem of scarce resources (of which natural resources
are the most obvious category) has been central to analysis for
centuries, natural resource economics is contradictory. The main
reason for this is that economic theory is out of step with prevailing
economic conditions, as a consequence of the varying concern for a
crucial phenomenon in the dynamics of economic systems: the
opposition-coexistence of the scarcity of natural resources and the
producibility of commodities.
Natural resource economics can be summarized by dividing it into
three main lines of thought: the theory of producibility and scarcity
developed by classical economists; the theory of general and natural
scarcities developed by marginalists and neoclassicals; the theory of
dynamics with and without natural scarcities developed by
macroeconomists, structuralists and empirical stylizers.
Using this three-way subdivision, which is not clearly codified in
economic theory, the basic features of each approach will be
examined with special attention to its early exponents.
The historical starting point is the second half of the Eighteenth
century, although we will ignore contributions such as those made by
the Physiocrats who, during the same period, developed a theory of
production based on the surplus generated by agriculture.
In the second one (cap. 5-6), we consider that the role of
technological innovation for resources use and conservation is often
measured by empirical indicators of intensity or efficiency which
express the evolution of resource use in relation to variables such as
population and GDP. The historical evolution of these indicators
tends to indicate a process of decoupling – in other words, a decrease
in the energy/emissions intensity of economic activity or an increase
in the efficiency/productivity of resource use.
These empirical regularities have led to the proposition of stylized
facts representing the relationships between resource-use efficiency
and economic growth known as environmental Kuznets curves.
However, the economic interpretations of the innovation mechanisms
underlying the progress suggested by efficiency indicators,
nonetheless, remain open and complex at the very time when there is
increasing demand for further substantial advances in resource-use
efficiency. We will survey the empirical evidence on the mediumand
long-term dynamics of these indicators and will discuss their
significance. This will be followed by an analysis of the possible role
played by economic factors (especially resource prices and markets)
and institutional factors (especially climate policy) in triggering and
supporting progress in the use efficiency of energy resources.
AB - This Working Paper joint two previous article by the authors:
The economic theory of exhaustible natural resources, in
“Enciclopedia degli Idrocarburi”, vol. IV, Istituto della Enciclopedia
Treccani, Roma, 2008, pp. 3-10;
Technological innovation, relative scarcity, investments, in
“Enciclopedia degli Idrocarburi”, vol. IV, Istituto della Enciclopedia
Treccani, 2008, pp. 11-22
In the first one (cap. 1-4), we consider the contribution of economic
theory (partly through a reevaluation of history) in order both to
interpret and predict events, and to identify economic policies; this
happens especially when the world economy feels the significant
constraints imposed by some natural resources and raw materials,
partly due to the rapid growth of a number of developing countries,
and when there is an urgent need to increase resources rapidly to
ensure continuing availability.
Even if the problem of scarce resources (of which natural resources
are the most obvious category) has been central to analysis for
centuries, natural resource economics is contradictory. The main
reason for this is that economic theory is out of step with prevailing
economic conditions, as a consequence of the varying concern for a
crucial phenomenon in the dynamics of economic systems: the
opposition-coexistence of the scarcity of natural resources and the
producibility of commodities.
Natural resource economics can be summarized by dividing it into
three main lines of thought: the theory of producibility and scarcity
developed by classical economists; the theory of general and natural
scarcities developed by marginalists and neoclassicals; the theory of
dynamics with and without natural scarcities developed by
macroeconomists, structuralists and empirical stylizers.
Using this three-way subdivision, which is not clearly codified in
economic theory, the basic features of each approach will be
examined with special attention to its early exponents.
The historical starting point is the second half of the Eighteenth
century, although we will ignore contributions such as those made by
the Physiocrats who, during the same period, developed a theory of
production based on the surplus generated by agriculture.
In the second one (cap. 5-6), we consider that the role of
technological innovation for resources use and conservation is often
measured by empirical indicators of intensity or efficiency which
express the evolution of resource use in relation to variables such as
population and GDP. The historical evolution of these indicators
tends to indicate a process of decoupling – in other words, a decrease
in the energy/emissions intensity of economic activity or an increase
in the efficiency/productivity of resource use.
These empirical regularities have led to the proposition of stylized
facts representing the relationships between resource-use efficiency
and economic growth known as environmental Kuznets curves.
However, the economic interpretations of the innovation mechanisms
underlying the progress suggested by efficiency indicators,
nonetheless, remain open and complex at the very time when there is
increasing demand for further substantial advances in resource-use
efficiency. We will survey the empirical evidence on the mediumand
long-term dynamics of these indicators and will discuss their
significance. This will be followed by an analysis of the possible role
played by economic factors (especially resource prices and markets)
and institutional factors (especially climate policy) in triggering and
supporting progress in the use efficiency of energy resources.
KW - natural resources
KW - technologies
KW - natural resources
KW - technologies
UR - http://hdl.handle.net/10807/12264
UR - http://centridiricerca.unicatt.it/cranec_crn1101.pdf
M3 - Working paper
SN - 978-88-343-2107-2
BT - Natural Resources and Technologies
PB - Vita e Pensiero
ER -