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Markets for Capital and Natural Resources ,[object Object],[object Object]
Financial Markets ,[object Object],[object Object],[object Object],[object Object]
Demand for Financial capital ,[object Object],[object Object],[object Object]
interest rate Q funds D
Shifts in demand for funds ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object]
[object Object],[object Object]
Supply of Financial capital  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Shifts in supply of funds ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Financial market equilbrium interest rate Q funds S D i* Q*
Natural Resource markets ,[object Object],[object Object],[object Object],[object Object]
Market for land ,[object Object],[object Object]
S rent Q land D r* Q*
economic rent ,[object Object],[object Object],[object Object],[object Object],[object Object]
S rent Q land D r* Q* economic rent
[object Object],[object Object]
Economic Rent ,[object Object],[object Object],[object Object],[object Object]
example:  Shaquille O/Neal ,[object Object],[object Object],[object Object],[object Object]
when do resources earn rent? ,[object Object],[object Object]
Differential rent ,[object Object],[object Object],[object Object],[object Object],[object Object]
Inframarginal rent ,[object Object],[object Object],[object Object],[object Object]
examples ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
upward-sloping supply earnings split rent opp. cost Q res. P res. S D P* Q*
Supply of nonrenewable resource ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
example: metals ,[object Object],[object Object],[object Object],[object Object]
Market-guided conservation ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object]
Problems with markets & nonrenewable resources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Doomsday scenarios ,[object Object],[object Object]
Paul Ehrlich The Population Bomb ,  1968 ,[object Object],[object Object],[object Object]
Limits to Growth 1974 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
An economist’s refutation: ,[object Object],[object Object],[object Object],[object Object]
Simon vs. Ehrlich ,[object Object],[object Object],[object Object],[object Object],[object Object]
 
Real concerns about resources today: ,[object Object],[object Object],Hubbert’s curve
[object Object],[object Object],[object Object],[object Object]

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