haku: @indexterm Equilibrium analysis / yhteensä: 508
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| Tekijä: | Bartolini, S. Bonatti, L. |
| Otsikko: | Environmental and social degradation as the engine of economic growth |
| Lehti: | Ecological Economics
2002 : NOV, VOL. 43:1, p. 1-16 |
| Asiasana: | RESOURCE MANAGEMENT DEFENCE EXPENDITURE EQUILIBRIUM ANALYSIS ECONOMIC GROWTH |
| Kieli: | eng |
| Tiivistelmä: | In this paper, a commonly owned resource (an environmental or social asset) and a private good are substitutes in consumption. The households can buy the private good on the market, while the resource is available for free. The resource is renewable, but its ability to regenerate declines with the level of aggregate production: each single firm producing the private good has only a negligible impact on the resource, but the impact caused by the entire population of firms is considerable. In the face of a decrease in the stock of the resource, households are induced to increase their participation in market activities in order to raise their income and buy more private goods. |
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