xid-9544574_2 - Tuesday, Nov. 15 Sustainability and...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
T uesday, Nov. 15 S ustainability and capital: What is 'capital'? class of productive resources - used to produce various goods, services, benefits, amenities, etc, for final use or consumption Capital stock provides a flow of benefits over time; efficiency over  time requires maintenance of capital stock to provide flows of  consumption and production benefits over time. If various types of capital are highly substitutable, decline in stock  of natural capital can be compensated for by intensive use of  other forms of capital. If various types of capital are  not  very substitutable (ie,  complements), requires preservation of natural capital. Efficiency is not the same as equity, and… Sustainability isn’t the same as efficiency.   E xhaustible (or depletable, or nonrenewable) resources. Question…… What is the optimal use of an exhaustible resource (one with a finite supply, like an oil or mineral deposit, uranium, coal, gas)? How much of the resource is available? It depends…. Specific deposits can be identified (location, quantity, etc., based on geological investigation and measurement.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
More general indications and measurements - within a given margin of error, based on samples of geological locations. Inferences - of currently unknown resource deposits, based on characteristics of nearby specific deposits and sites; not yet explored. Undiscovered, hypothetical, expected in a general area, not yet explored. Not all of these are considered economic…
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/05/2012 for the course ECP 3302 taught by Professor Staff during the Fall '11 term at Florida State College.

Page1 / 6

xid-9544574_2 - Tuesday, Nov. 15 Sustainability and...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online