Revolutionizing Resource Management: Balancing Scarcity and Innovation for Global Growth
The article discusses how economic theory and technological innovation play a crucial role in managing natural resources. It explores different perspectives on the scarcity of resources and how economic conditions impact resource availability. The researchers analyze historical contributions and divide natural resource economics into three main theories: producibility and scarcity, general and natural scarcities, and dynamics with or without natural scarcities. They also highlight the importance of technological innovation in resource use and conservation, measured by indicators like efficiency and intensity.