Mathematical Bioeconomics
Lecture notes in biomathematicsPublished 1 January 1974
Colin Clark
Citations757
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Abstract
Renewable resource management would seem to provide a fertile area for the application of economic analysis, whether classical or modern. The last of Adam Smith's three sources of wealth — capital, labor and land — for example, clearly includes the class of renewable resources. The fundamental concept of "economic rent" applies directly to the contribution of biological productivity to wealth.
Keywords
Economics, Econometrics and FinanceEnergyEnvironmental Science
ScienceThe Economics of Overexploitation
583 Citations1973Colin Clark
The general economic analysis of a biological resource presented in this article suggests that overexploitation in the physical sense of reduced productivity may result from not one, but two social conditions: common-property competitive exploitation on the one hand, and private-property maximization of profits on the other.
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