Download Natural Resources and Economic Development by Edward B. Barbier PDF
By Edward B. Barbier
Why is average source exploitation no longer yielding larger advantages to the negative economies of Africa, Asia and Latin the United States? This book's ancient assessment of source use and improvement examines present theories explaining under-performance of state-of-the-art resource-abundant economies. After constructing versions to research the most important fiscal components underlying land enlargement and water use in constructing international locations, Edward Barbier explores their source dependency, rural poverty and source degradation and proposes reforms for winning resource-based improvement.
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2 According to the weak sustainability view, there is essentially no inherent difference between natural and other forms of capital, and hence the same ‘‘optimal depletion’’ rules ought to apply to both. 3 Maintaining and enhancing the total stock of all capital alone is sufficient to attain sustainable development. In contrast, proponents of the strong sustainability view argue that physical or human capital cannot substitute all the environmental resources comprising the natural capital stock, or all of the ecological services performed by nature.
In other words, according to this view, current economic development is essentially unsustainable. 16 Natural Resources and Economic Development While it is generally accepted by most economists that economic development around the world is leading to the irreversible depletion of natural capital, there is widespread disagreement as to whether this necessarily implies that such development is inherently unsustainable. From an economic standpoint, the critical issue of debate is not whether natural capital is being irreversibly depleted, but whether we can compensate future generations for the current loss of natural capital, and if that is possible, how much is required to compensate future generations for this loss (Ma¨ler 1995).
A Based on United Nations Conference Trade and Development (UNCTAD), Handbook of International Trade and Development Statistics, 2001 unless otherwise stated. b Based on various editions of the following World Bank documents: World Development Report, Trends in Developing Economies, Commodity Trade and Price Trends and African Economic and Financial Data. c Based on World Bank, Commodity Trade and Price Trends, 1989–91 Edition. d Based on World Bank, Commodity Trade and Price Trends, 1989–91 Edition.