This paper analyzes the effect of taxation on the intertemporal allocation of an exhaustible resource. A general framework within which a large variety of taxes can be analyzed is developed and then applied to a number of specific taxes. It is shown that there exists a pattern of taxation which...

Intro; Table of Contents; In Memoriam: Kenneth Joseph Arrow (1921-2017); Foreword, by Robert M. Solow; Preface; Random Thoughts on "Birth and Death," by Kenneth J. Arrow; Birth and Death: Arrow Lecture; 1. Economic Demography; 2. Utilitarian Ethics; 3. Ends and Means; 4. Synopsis; Part I: Foundations;...