Natural Resources and Economic Growth

Abstract

ATURAL resources and land were treated by the Physiocrats and the early economists of the Classical School as a prime input in the economic production process. Much less emphasis is given to these factors by most present day economists. Many give little or no consideration to the land factor in their writings and teachings, and some have tended to write off land and natural resources as an insignificant contributing factor in the process of economic growth. Many factors have contributed to this about-face in economic thinking. Increased agricultural productivity has made it possible for economists and others to concentrate on problems other than man's age-old concern with the need to secure food, clothing, and shelter for survival. Industrialization, the urbanization movement, and the growing complexities of modern life have favored specialization of labor among economists and have caused many to work on phases of economics only indirectly concerned with natural resources.