Abstract

Food security for all is a global political goal and an outstanding moral concern. The common response to this concern is agricultural intensification, which includes among other things increasing inputs of fertilisers. The paper addresses the fact that phosphorus (P) is essential for agricultural production but large and increasing amounts of P fertilisers stem from depletable mines. This raises sustainability concerns and the possibility of long-term food insecurity. The paper analyses three scenarios for global phosphorus extraction and recycling under discounted utilitarianism. First, for a benchmark scenario without recycling, food security will inevitably be violated in the long run. Second, if we introduce P recycling, food security can be maintained but food production falls over time and approaches a minimum level just sufficient to feed the global population. Third, a sustainable (i.e. non-declining) path of food production is feasible. Compared to just maintaining a minimum level of food production the sustainable path requires greater recycling efforts. Recycling efforts are increasing over time but the total discounted costs are finite and, hence, sustainable food production seems feasible even if it depends on depletable phosphate mines.

Highlights

  • Food security for all is a global political goal and an outstanding moral concern

  • While N fertilisers can be produced from atmospheric nitrogen, K and P fertilisers are extracted from depletable mines

  • RESULT 1 If P from depletable mines is the only source of fertilizer, the equilibrium P extraction path will be (i) declining, (ii) the rate of decline will be falling, (iii) no given strictly positive level of food production can be maintained and food security will inevitably be violated in the long run

Read more

Summary

A Hotelling model of P extraction

We present the main model features and results in an intuitive way. Mathematical derivations are relegated to an Appendix. To keep the model simple and tractable and in order to focus on the effects of recycling I assume zero extraction cost. In this setting individual firms do not have market power and on the equilibrium extraction path each firm is indifferent between extraction and conservation of an additional unit of P (Hotelling 1931). Utilitarian calculus yields the result that the rate of change of marginal social welfare must equal the discount rate. The constraint in (2) says that the sum of extractions at all times cannot exceed the initial stock of the resource X0.

RESULT
Findings
Conclusions for resource policies
Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.