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Abstract: Resource prices rise when more costly sources need to be
exploited. When the world price increases, owners of low-cost sources receive
scarcity rents. The magnitude of the rents depends on the range of resource qualities
being simultaneously exploited and can represent a substantial transfer of wealth to
those with property rights ... read moreto large stocks of high-quality, easily accessible
resources. These rents are bound to increase in the future along with the size of the
human population, raised consumption expectations, and deployment of technologies
that depend on a wider range of natural resources for their unique
properties.
Keywords: Resource scarcity, Scarcity rents, Global payment network,
Global supply chain, Scenario analysis, World Trade Model with Bilateral Trade
(WTMBT), Multiregional Input-Output (MRIO) database.
Springer Open.read less
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