Limits to Growth: Depletable Resources and Sustainable Development

This lecture explores the concept of growth with finite resources, focusing on the Club of Rome's 'Limits to Growth' report and the implications of depletable resources on sustainable development. It discusses the role of prices in resource management, the impact of backstop technologies, and the challenges of resource depletion. The lecture also delves into the dynamics of oil reserves, extraction technologies, and the importance of reducing the growth rate of resource use to ensure long-term sustainability.