This study, first published in 1979, continues by examining the question of whether a competitive economy can efficiently allocate a stock of non-renewable natural resources through time. Long-run analyses of competitive economies with such resources have concluded that, without perfect foresight or a complete set of future markets extending infinitely far into the future, there is no economic mechanism to guarantee that the initial price is set so that the economy converges to the socially desirable path of balanced growth. This title will be of interest to students of environmental and...

Originally published in 1988. Copper is one of the most actively traded commodities. It is a crucial commodity for industrialised countries, most of which depend on imports for their supplies. Copper is also the single most important export for many of the producer-countries. Changes in the patterns of the world trade in copper therefore have an important impact on many countries. This book surveys the state of the world copper industry as it was in the 1980s. It discusses the state of production, demand and trade and assesses trends. Special emphasis is given to the outlook for over...

This study, originally published in 1972, examines the connections between human society and the rest of the universe that are attributable to economic activity. These include the inputs from the environment to industry, such as oxygen, used in the combustion of mineral fuels. Also included are the industrial outputs which are fed back into the environment in the form of waste products. An attempt will be made to establish functional relations between the extent and character of economic activity and the flow of materials in both directions between the economy and the environment. This...