ABSTRACT
Perhaps the premises and conclusions of classical economics concerning natural resources and economic growth have gone largely unquestioned because they are difficult to test. Subjection of these premises and conclusions to analytical and empirical investigation involves three steps. The first, undertaken in Part II, was to examine the two basic classical models—the Malthusian and Ricardian—within the framework of their own restrictive premises. The second step, undertaken in this chapter, is to remove these restrictions and provide an analytical framework that takes account of historical changes in the parameters. The third step, which we undertake in further chapters, is empirical investigation and evaluation of the role of natural resources in the growth process.
