ABSTRACT
More recently Sraffians have worked to incorporate exhaustible resources and the insights captured by Hotelling’s Rule into their analysis of price and income determination.However, because exhaustible resources raise fundamental issues about what a steady state or long period analysis means in this context, there is still controversy about the best way to go about this.3 Because the treatment of the natural environment in this book deviates from this tradition in two ways, an explanation is in order.
