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Resource prices rise when more costly sources need to be exploited. When the world price increases, owners of low … unique properties. We report results for a set of scenarios for a three-region, four-sector, three-resource world economy …-cost endowments relative to world demand and on the differential costs of extraction relative to the highest-cost producer. The paper …
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Sustainable development involves linking the economic, social and environmental objectives of societies in a balanced way. It stresses the importance of taking a broader view of what human welfare entails, of using a long-term perspective about the consequences of today's activities, and of...
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