This paper proposes an extension of the classical theory of normal prices to an n-commodity economy with exhaustible natural resources. The central idea is developed by two analytical steps. Firstly, it is assumed that a given flow of an exhaustible resource in short supply is combined with the...

Fodder for live-stock was, in Quesnay’s view, a critical portion of the farmer’s circulating capital. By increasing recourse to stabling it increased the availability of manure which in turn would increase yield per acre of land. Expenditure on fodder is in fact the single item that best of...

In this article the author, after a critical assessment of the main notions of services developed in economics, presents a revised definition of services based on process analysis. A corresponding distinction is made between material and non-material goods, on the one hand, and services, on the...