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Bob Murphy Show - Robert Murphy EPISODE 172, 5th January 2021
Ep. 172 How Much Oil Should Humanity Use This Year?
00:00:00 00:43:12

Ep. 172 How Much Oil Should Humanity Use This Year?

Harold Hotelling in 1931 wrote the pioneering article "The Economics of Exhaustible Resources" that described the equilibrium prices over time for a finite resource such as oil or coal. Bob explains the answer and how it matches with the Austrian view of time preference.

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The audio production for this episode was provided by Podsworth Media.