ABSTRACT
Bertram Schefold was keen to extend the classical approach to the theory of value and distribution, as it had already been reformulated and generalized earlier by Piero Sraffa (1960), to exhaustible resources (see the collections of essays in Schefold, 1989, 1997). A start had been made by Parrinello (1983) and then Schefold, who opened up a new field of research to those who adopted the approach under consideration and applied it to many questions not dealt with in Sraffa’s classic contribution.1 These efforts brought about a rich harvest of works, including contributions to the problem of ‘wasting assets’, as Sraffa called the case of exhaustible resources in the preparatory notes of his book (see Kurz and Salvadori, 2001: 290-3). Inspired by the works of these authors, we also entered into a discussion of exhaustible resources in some of our contributions (see Kurz and Salvadori, 2000, 2001, 2009).
