『(Abstract)
The theoretical arguments of the conceptual and empirical literature
on economic indicators of long run resource scarcity are logically
flawed. If resource allocators were informed of the nature of
resource scarcity, their behavior and the economic indicators
it generates would reflect the scarcity. But if they were so informed,
we could simply ask them if resources were scarce. If they are
not informed, their behavior and economic indicators are as likely
to indicate their ignorance as the reality. Unfortunately, there
is no way of knowing whether they are informed or not unless we
already know whether resources are scarce.』
1. Introduction
2. A review of the literature
3. The logical fallacy
4. How did we go wrong?
5. Conclusion
References