The nature of energy and material resources in an endogenous growth theory framework is clarified. This involves three modifications of the conventional theory. Firstly, multiple feedback mechanisms or “growth engines” are identified. Secondly, a production function distinguishes between...

The meaning of sustainability is the subject of intense debate among environmental and resource economists. Perhaps no other issue separates more the traditional economic view of the natural world from the views of most natural scientists. The debate currently focuses on the substitutability...