Resource depletion

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Resource depletion is an economic term referring to the exhaustion of raw materials within a region. Resources are commonly divided between renewable resources and non-renewable resources. Use of either of these forms of resources beyond their rate of replacement is considered to be resource depletion.

Resource depletion is most commonly used in reference to the farming, fishing, mining, and fossil fuels.

Normally, resources will not become totally exhausted at some particular moment, but rather will diminish until the price of continued exploitation becomes so high that it is no longer economical. According to Hubbert peak theory, the rate of exploitation follows a sort of bell-shaped curve. The Hubbert peak theory article discusses predictions for some resources.

Estimates for when various resources will run out if exploitation continues at present rates are somewhat controversial, but for some resources, the estimated time left is rather short.^[1]

[edit] Causes of depletion of resources

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• Epidemic of obesity
• Excessive or unnecessary use of resources
• Non-equitable distribution of resources
• Overpopulation
• Slash and burn agricultural practices in many developing countries
• Technological and industrial development

[edit] Modeling resource depletion

Jay Forrester created the discipline of System Dynamics, which facilitates modeling of resource depletion within larger economic systems.^[2]

[edit] References

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