natural resource economic
Instructions
single space and font 12 size, summarize the main issues covered in the assigned reading.
Answer
Article Review: Conservation ReconsideredIn the article Conservation Reconsidered, Krutilla (1967) argues that there is more concern by economists on the scarcity of natural resources. The author attributes this scarcity to the rate at which they are used and this in turn has resulted in decline in the market value of natural resources. An important factor that has compensated for this decline according to the author is technological advancements such that there are adequate substitutions for natural resources. Yet there exists a dilemma in terms of market provision for natural resources that are considered unspoiled. In his article, Krutilla argues that more efforts towards conservation of natural resources are based on the need to preserve them based on their existence and not because o...
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