Economists have studied natural resources from the earliest days of the profession and for good reason. Resources are seen as the basis for national resources in new ways is recognized as perhaps the major factor under- lying the industrial revolution. Even more fundamental, food supplies depend on forests, fisheries, and agricultural land. It is no wonder than that there have been, at times, a number of econ- omists, and others, who have feared the dire effects of possible resource Shortages as economic development proceeds.
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