Short communication. Economics of natural resources: in search of a unified theoretical framework

Abstract

This paper proposes a unified theoretical framework for dealing with the optimum economic use of any type of natural resource. After formulating and economically interpreting the unified framework, the basic rules governing the economic exploitation of the different natural resources can be easily obtained by particularizing the different values of its basic parameters. Taking this approach, it is easy to understand what commonalities there are, in terms of economic logic, between the different types of natural resources. This considerably increases the amount of consilience and understanding about the discipline.