ABSTRACT
The first of the natural system is comparatively simple one of mineral depletion, the second is a cast in terms of a fishery, of the immensely more complicated problem of managing economic-biological systems. In view of the tremendous importance of government investment related to natural resources, people found it necessary to depart from the simpler partial equilibrium formulations of problems entirely in an effort to deal with the pervasive externality problems associated with residuals disposal and congestion phenomena resulting from increasingly heavy use of common property resources. People have not attempted to give an account of the economics of particular resources except as seemed useful in order to provide an introduction to the application of theoretical ideas from allocation theory. Here people encounters the need to inquire into the formation of societal consensus. If this is strong enough, methods adequate to the task probably could be put into effect.
