The Hartwick Rule: Myths and Facts

DOI to cite this document:: 10.5283/epub.5382

Asheim, Geir B. ; Buchholz, Wolfgang ; Withagen, Cees

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Date of publication of this fulltext: 05 Aug 2009 13:50

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Abstract

We shed light on the Hartwick rule for capital accumulation and resource depletion by providing semantic clarifications and investigating the implications and relevance of this rule. We extend earlier results by establishing that the Hartwick rule does not indicate sustainability and does not require substitutability between man-made and naturalcapital. We use a new class of simple ...