The Independent Review
(Quarterly Journal)
Policy Reports
The Lighthouse
(Email Newsletter)
Commentary Articles
News Releases
Audio and Visual Programs
The Independent
(Quarterly Newsletter)
Research Articles
Working Papers
Course Adoption Program


Facebook Facebook Facebook Facebook

Your participation will advance liberty. Join us as an Independent Institute member.

Contact Us
The Independent Institute
100 Swan Way
Oakland, CA 94621-1428

510-632-1366 Phone
510-568-6040 Fax
Send us email

Interested in working with us?  Click here for more information.

Bookmark and Share    

Resource Exhaustibility: A Myth Refuted by Entrepreneurial Capital Maintenance
By John Brätland
This article appeared in the Winter 2008 issue of The Independent Review


Claims that oil deposits and other extractive resources are “exhaustible” often conflate physical exhaustion (total depletion of the physical stock of a resource) with economic exhaustion (loss of the expected profitability required to induce resource owners to continue extracting and marketing the resource). Yet that distinction is crucial, because when private-property rights are unencumbered, entrepreneurs usually have several strategies available for maintaining the economic value of their firms while they continue to operate them.

Other Independent Review articles by John Brätland
    Summer 2010   Capital Concepts as Insights into the Maintenance and Neglect of Infrastructure
    Spring 2004   Externalities, Conflict, and Offshore Lands: Resolution Through the Institutions of Private Property

Volume 12 Number 3
Winter 2008

Subscribe Today

Buy Single Issues

Independent Review Issues

Articles by Subject

Independent Review Articles on Related Subjects

Home | About Us | Blogs | Issues | Newsroom | Multimedia | Events | Publications | Centers | Students | Store | Donate

Product Catalog | RSS | Jobs | Course Adoption | Links | Privacy Policy | Site Map
Facebook Facebook Facebook Facebook
Copyright 2015 The Independent Institute