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Resource depletion
Resource depletion occurs when a natural resource is consumed faster than it can be replenished. The value of a resource depends on its availability in nature and the cost of extracting it. By the law of supply and demand, the scarcer the resource the more valuable it becomes. There are several types of resource depletion, including but not limited to: wetland and ecosystem degradation, soil erosion, aquifer depletion, and overfishing. The depletion of wildlife populations is called defaunation.
It is a matter of research and debate how humanity will be impacted and what the future will look like if resource consumption continues at the current rate, and when specific resources will be completely exhausted.
The depletion of resources has been an issue since the beginning of the 19th century amidst the First Industrial Revolution. The extraction of both renewable and non-renewable resources increased drastically, much further than thought possible pre-industrialization, due to the technological advancements and economic development that lead to an increased demand for natural resources.
Although resource depletion has roots in both colonialism and the Industrial Revolution, it has only been of major concern since the 1970s.[better source needed] Before this, many people believed in the "myth of inexhaustibility", which also has roots in colonialism.[citation needed] This can be explained as the belief that both renewable and non-renewable natural resources cannot be exhausted because there is seemingly an overabundance of these resources. This belief has caused people to not question resource depletion and ecosystem collapse when it occurred, and continues to prompt society to simply find these resources in areas which have not yet been depleted.
In an effort to offset the depletion of resources, theorists have come up with the concept of depletion accounting. Related to green accounting, depletion accounting aims to account for nature's value on an equal footing with the market economy. Resource depletion accounting uses data provided by countries to estimate the adjustments needed due to their use and depletion of the natural capital available to them. Natural capital refers to natural resources such as mineral deposits or timber stocks. Depletion accounting factors in several different influences such as the number of years until resource exhaustion, the cost of resource extraction, and the demand for the resource. Resource extraction industries make up a large part of the economic activity in developing countries. This, in turn, leads to higher levels of resource depletion and environmental degradation in developing countries. Theorists argue that the implementation of resource depletion accounting is necessary in developing countries. Depletion accounting also seeks to measure the social value of natural resources and ecosystems. Measurement of social value is sought through ecosystem services, which are defined as the benefits of nature to households, communities and economies.
There are many different groups interested in depletion accounting. Environmentalists are interested in depletion accounting as a way to track the use of natural resources over time, hold governments accountable, or compare their environmental conditions to those of another country. Economists want to measure resource depletion to understand how financially reliant countries or corporations are on non-renewable resources, whether this use can be sustained and the financial drawbacks of switching to renewable resources in light of the depleting resources.
Depletion accounting is complex to implement as nature is not as quantifiable as cars, houses, or bread. For depletion accounting to work, appropriate units of natural resources must be established so that natural resources can be viable in the market economy. The main issues that arise when trying to do so are, determining a suitable unit of account, deciding how to deal with the "collective" nature of a complete ecosystem, delineating the borderline of the ecosystem, and defining the extent of possible duplication when the resource interacts in more than one ecosystem. Some economists want to include measurement of the benefits arising from public goods provided by nature, but currently there are no market indicators of value. Globally, environmental economics has not been able to provide a consensus of measurement units of nature's services.
Minerals are needed to provide food, clothing, and housing. A United States Geological Survey (USGS) study found a significant long-term trend over the 20th century for non-renewable resources such as minerals to supply a greater proportion of the raw material inputs to the non-fuel, non-food sector of the economy; an example is the greater consumption of crushed stone, sand, and gravel used in construction.
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Resource depletion
Resource depletion occurs when a natural resource is consumed faster than it can be replenished. The value of a resource depends on its availability in nature and the cost of extracting it. By the law of supply and demand, the scarcer the resource the more valuable it becomes. There are several types of resource depletion, including but not limited to: wetland and ecosystem degradation, soil erosion, aquifer depletion, and overfishing. The depletion of wildlife populations is called defaunation.
It is a matter of research and debate how humanity will be impacted and what the future will look like if resource consumption continues at the current rate, and when specific resources will be completely exhausted.
The depletion of resources has been an issue since the beginning of the 19th century amidst the First Industrial Revolution. The extraction of both renewable and non-renewable resources increased drastically, much further than thought possible pre-industrialization, due to the technological advancements and economic development that lead to an increased demand for natural resources.
Although resource depletion has roots in both colonialism and the Industrial Revolution, it has only been of major concern since the 1970s.[better source needed] Before this, many people believed in the "myth of inexhaustibility", which also has roots in colonialism.[citation needed] This can be explained as the belief that both renewable and non-renewable natural resources cannot be exhausted because there is seemingly an overabundance of these resources. This belief has caused people to not question resource depletion and ecosystem collapse when it occurred, and continues to prompt society to simply find these resources in areas which have not yet been depleted.
In an effort to offset the depletion of resources, theorists have come up with the concept of depletion accounting. Related to green accounting, depletion accounting aims to account for nature's value on an equal footing with the market economy. Resource depletion accounting uses data provided by countries to estimate the adjustments needed due to their use and depletion of the natural capital available to them. Natural capital refers to natural resources such as mineral deposits or timber stocks. Depletion accounting factors in several different influences such as the number of years until resource exhaustion, the cost of resource extraction, and the demand for the resource. Resource extraction industries make up a large part of the economic activity in developing countries. This, in turn, leads to higher levels of resource depletion and environmental degradation in developing countries. Theorists argue that the implementation of resource depletion accounting is necessary in developing countries. Depletion accounting also seeks to measure the social value of natural resources and ecosystems. Measurement of social value is sought through ecosystem services, which are defined as the benefits of nature to households, communities and economies.
There are many different groups interested in depletion accounting. Environmentalists are interested in depletion accounting as a way to track the use of natural resources over time, hold governments accountable, or compare their environmental conditions to those of another country. Economists want to measure resource depletion to understand how financially reliant countries or corporations are on non-renewable resources, whether this use can be sustained and the financial drawbacks of switching to renewable resources in light of the depleting resources.
Depletion accounting is complex to implement as nature is not as quantifiable as cars, houses, or bread. For depletion accounting to work, appropriate units of natural resources must be established so that natural resources can be viable in the market economy. The main issues that arise when trying to do so are, determining a suitable unit of account, deciding how to deal with the "collective" nature of a complete ecosystem, delineating the borderline of the ecosystem, and defining the extent of possible duplication when the resource interacts in more than one ecosystem. Some economists want to include measurement of the benefits arising from public goods provided by nature, but currently there are no market indicators of value. Globally, environmental economics has not been able to provide a consensus of measurement units of nature's services.
Minerals are needed to provide food, clothing, and housing. A United States Geological Survey (USGS) study found a significant long-term trend over the 20th century for non-renewable resources such as minerals to supply a greater proportion of the raw material inputs to the non-fuel, non-food sector of the economy; an example is the greater consumption of crushed stone, sand, and gravel used in construction.
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