Invisible hand of market would optimally allocate, Ask an Expert

Economics

Q. Historical Development of U.S. Thomas Malthus (1798): Scarcity is inevitable because population grows to exhaust its resource endowment Harold Hotel ling (1931): invisible hand of market would optimally allocate exhaustible resources and prevent shortages because market prices of a resource such as oil reflect both its current value and its future value. Why might Hotel ling be right?

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Business Economics, Economics

Category:- Business Economics
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