Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation

Page 1 <img data-url='document/natural-resources-national-accounting-and-economic-natural-resources-national.html?page=1' data-page='1' class='cut-thumb lazyload' alt='Page 1: Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/1.jpg' width='140' height='200' /> QEDQueen’s Economics Department Working Paper No. 771

Natural Resources, National Accounting and EconomicDepreciation

John M. Hartwick

Department of EconomicsQueen’s University

94 University AvenueKingston, Ontario, Canada

K7L 3N6

1-1990

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Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/3.jpg' width='140' height='200' /> Page 4 <img data-url='document/natural-resources-national-accounting-and-economic-natural-resources-national.html?page=4' data-page='4' class='cut-thumb lazyload' alt='Page 4: Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/4.jpg' width='140' height='200' /> Page 5 <img 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data-url='document/natural-resources-national-accounting-and-economic-natural-resources-national.html?page=8' data-page='8' class='cut-thumb lazyload' alt='Page 8: Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/8.jpg' width='140' height='200' /> Page 9 <img data-url='document/natural-resources-national-accounting-and-economic-natural-resources-national.html?page=9' data-page='9' class='cut-thumb lazyload' alt='Page 9: Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/9.jpg' width='140' height='200' /> Page 10 <img data-url='document/natural-resources-national-accounting-and-economic-natural-resources-national.html?page=10' data-page='10' class='cut-thumb lazyload' alt='Page 10: Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/10.jpg' width='140' height='200' /> Page 11 <img data-url='document/natural-resources-national-accounting-and-economic-natural-resources-national.html?page=11' data-page='11' class='cut-thumb lazyload' alt='Page 11: Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/11.jpg' width='140' height='200' /> Page 12 <img data-url='document/natural-resources-national-accounting-and-economic-natural-resources-national.html?page=12' data-page='12' class='cut-thumb lazyload' alt='Page 12: Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/12.jpg' width='140' height='200' /> Page 13 <img data-url='document/natural-resources-national-accounting-and-economic-natural-resources-national.html?page=13' data-page='13' class='cut-thumb lazyload' alt='Page 13: Natural Resources, National Accounting and Economic Depreciationqed.econ.queensu.ca/working_papers/papers/qed_wp_771.pdf · Natural Resources, National Accounting and Economic Depreciation' loading='lazy' src='data:image/gif;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAYAAAAfFcSJAAAADUlEQVR42mNk+P+/HgAFhAJ/wlseKgAAAABJRU5ErkJggg==' data-src='https://reader034.cupdf.com/reader034/viewer/2022042300/5ecaff699e37957c52323f85/html5/thumbnails/13.jpg' width='140' height='200' /> Page 14 <img 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