Showing papers by "Robert M. Solow published in 2009"

An Amateur Among Professionals

Abstract: This brief retrospective note describes the author’s occasional contributions to the economics of natural resources. It emphasizes the role and interpretation of the Hotelling condition and discusses the reasons why that result plays so small a role empirically. The concept of sustainability is introduced in the simplest possible content, that of directly consuming a finite stock over infinite time. When the resources flow is an input into production along with capital that can be accumulated, the nature of sustainability changes and becomes more interesting. It is suggested, however, that to consider instead the eventual availability of a resource-free backstop technology may be just as interesting and more relevant. That concept is illustrated in the direct-consumption context but awaits further development in production economies.

Round Table Discussion: Economics and Climate Change – Where do we Stand and Where do we go from Here?

Abstract: How did climate change become an economic issue? Why is economic discourse so influential on the public policy of climate change? How can it best contribute to the scientific and public debates? Nine eminent scholars explain in this book both how economics has changed environmental understanding and how the study of climate change has modified the economy.