Standard environmental economics prescribes policies which are optimal and implemented immediately. The paper argues that, in reality, environmental policy often deviates from the optimum and implementation is not deterministic but subject to major uncertainty and frequent change. We present a...

The paper develops a model with non-exponential population growth, nonrenewable natural resources, and endogenous knowledge creation to analyse economic development in the medium and long run. We further assume poor substitution between primary inputs and an essential use of resources in the...