Natural Resource economics : analysis, theory, and applications / Jon M. Conrad, Cornell University, New York, Daniel Rondeau, University of Victoria, British Columbia.

By:

Conrad, Jon M [author.]

Contributor(s):

Rondeau, Daniel, 1966- [author.]

Material type:

TextPublisher: New York : Cambridge University Press, 2020Edition: First EditionDescription: xiv,345 P. ; 25 cmContent type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

9781108588928

Subject(s):

Additional physical formats: Print version:: Resource economicsDDC classification:

333.7 23 CON

LOC classification:

HC59.15

Summary: "Fisher (1904, p. 387) defined capital as "a stock (of wealth or property, or the value of either) existing at an instant of time." Fisher's conception of capital is inextricably linked to time. The value of a capital asset is derived from its potential to provide a flow of benefits through the production of goods and services. Fisher himself recognized natural resources as capital assets. To illustrate the relationship between stocks, flows, and time, he wrote "Capital of any kind always occupies a position, like that of a reservoir of water, intermediate between two flows, the inflow and outflow" (Fisher, 1897, p.512). The modern treatment of natural resources in economics is squarely constructed on this notion that resources are a reservoir of wealth, a production factor from which products and services (marketed or not) can flow over time. In some cases, like water in a reservoir, there may indeed be an inflow as well as an outflow, but this need not always be the case"-- Provided by publisher.

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Holdings
Cover image	Item type	Current library	Home library	Collection	Shelving location	Call number	Materials specified	Vol info	URL	Copy number	Status	Notes	Date due	Barcode	Item holds	Item hold queue priority	Course reserves
	Book	Mukombe Library				333.7 CON (Browse shelf(Opens below))					Available			14665
	Book	Mukombe Library				333.7 CON (Browse shelf(Opens below))					Available			14666

Includes bibliographical references and index.

"Fisher (1904, p. 387) defined capital as "a stock (of wealth or property, or the value of either) existing at an instant of time." Fisher's conception of capital is inextricably linked to time. The value of a capital asset is derived from its potential to provide a flow of benefits through the production of goods and services. Fisher himself recognized natural resources as capital assets. To illustrate the relationship between stocks, flows, and time, he wrote "Capital of any kind always occupies a position, like that of a reservoir of water, intermediate between two flows, the inflow and outflow" (Fisher, 1897, p.512). The modern treatment of natural resources in economics is squarely constructed on this notion that resources are a reservoir of wealth, a production factor from which products and services (marketed or not) can flow over time. In some cases, like water in a reservoir, there may indeed be an inflow as well as an outflow, but this need not always be the case"-- Provided by publisher.

Description based on print version record and CIP data provided by publisher; resource not viewed.

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