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Economics and Natural Resources
The potential for economic progress is in no way limited by any fundamental lack of natural resources. Despite the claims so often made that we are in danger of running out of natural resources, the fact is that the world is made out of natural resources – out of solidly packed natural resources, extending from the upper limits of its atmosphere to its very center, four thousand miles down. This is so because the entire mass of the earth is made of nothing but chemical elements, all of which are natural resources. For example, the earth's core is composed mainly of iron and nickel – millions of cubic miles of iron and nickel. Its oceans and atmosphere are composed of millions of cubic miles of oxygen, hydrogen, nitrogen, and carbon, and of lesser, but still enormous, quantities of practically every other element.
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see also:
▪
Adam Smith
▪
Division of Labor
▪
Economic Growth
▪
Economy of Learning and Motion
▪
Foundations of Economics
▪
Freedom of Competition
▪
Geographic Specialization of Economic Activities
▪
Governmental Monopoly
▪
Japanese Economics
▪
Keynesian Economics
▪
Marxist Economics
▪
Money, Gold and Inflation
▪
Monopolism
▪
Political Economy and State Security
▪
Procapitalist Economics
▪
The Role of Wealth
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