The Management of Nonrenewable Resources

by Bernhard Schwab



The article presents information on how to manage nonrenewable resources. If one is to make progress in the struggle for reasonable and comprehensive policies with regard to non-renewable resources, it is necessary that various parties concerned obtain a better understanding of potentials and limitations of free market behavior in this context. No doubt any policies, which evolve regarding nonrenewable resources will affect business, so it is particularly important that business executives become active and inform participants in the debate. If business wants to be viewed as making positive contributions towards finding and implementing viable solutions, executives will need to exhibit an understanding of key issues and tradeoffs which society may have to face, rather than concern themselves with only immediate business interests. Economic theory as it pertains to exhaustible resources differs from the economics of general market behavior. The economic theory of exhaustible resources is not well developed.

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