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Post-Faustmann Forest Resource Economics (Sustainability, Economics, and Natural Resources)

Post-Faustmann Forest Resource Economics (Sustainability, Economics, and Natural Resources) Authors:
Publisher:
Year:2012
Serie:
Pages:314
Sizes:
Price:13555 rub.
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Book Summary:
The current paradigm of forest economics is based on Faustmann Formulation (FF) of land expectation value proposed by Martin Faustmann. It was a great achievement by a forester to propose a formulation that captures some fundamental economic features of capital theory which. However, the followers of the FF approach have trapped themselves into the past, and have not shown any indication of economic acumen of the great Faustmann. This has resulted in a common problem in the current paradigm of forest economics, known as Faustmann Forest Resource Economics (FFRE), to prescribe the application of a single (FF) approach to all situations irrespective of the specific features of the situation. The current state of forest economics is similar to that of neoclassical economics, and is full of inefficiencies. In neoclassical economics, inefficiencies are due to its a??locked-ina?? position in rational economic man, while in forest economics inefficiencies are due to its a??locked-ina??...

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