The economics of exhaustible resources

@article{Hotelling1931TheEO,
  title={The economics of exhaustible resources},
  author={Harold Hotelling},
  journal={Bulletin of Mathematical Biology},
  year={1931},
  volume={53},
  pages={281-312}
}
  • H. Hotelling
  • Published 1 April 1931
  • Economics
  • Bulletin of Mathematical Biology
Contemplation of the world’s disappearing supplies of minerals, forests, and other exhaustible assets has led to demands for regulation of their exploitation. The feeling that these products are now too cheap for the good of future generations, that they are being selfishly exploited at too rapid a rate, and that in consequence of their excessive cheapness they are being produced and consumed wastefully has given rise to the conservation movement. The method ordinarily proposed to stop the… 

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