The declining importance of natural resources: lessons from agricultural land

During the 20th Century a substantial decline in the economic importance of natural resources, especially farm land, has occurred. Views expressed by Schultz on the declining importance of land are emphasized. Grain yields in the United States were unchanged from 1800 to about 1940, but since then h...

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Bibliographic Details
Published in:	Resource and energy economics Vol. 24; no. 1; pp. 157 - 171
Main Author:	Johnson, D.Gale
Format:	Journal Article
Language:	English
Published:	Amsterdam Elsevier B.V 01-02-2002 Elsevier Elsevier Sequoia S.A
Series:	Resource and Energy Economics
Subjects:	Agricultural economics Agronomy. Soil science and plant productions Biological and medical sciences Fundamental and applied biological sciences. Psychology Generalities. Biometrics, experimentation. Remote sensing Land Land use Natural resources Productivity Studies Yield United Kingdom United States North America Europe America United States > US Q1 Productivity Yield N5 Land Natural resources Century 19th LAND PRODUCTIVITY Labour productivity Economic importance Return rate Agricultural economics Case history Century 20th Land resources Conservation of resources FARMLAND Agricultural production
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Summary:	During the 20th Century a substantial decline in the economic importance of natural resources, especially farm land, has occurred. Views expressed by Schultz on the declining importance of land are emphasized. Grain yields in the United States were unchanged from 1800 to about 1940, but since then have increased dramatically. Increases in labor productivity occurred much earlier, starting in the early 19th Century and increasing much more rapidly than did land productivity.
ISSN:	0928-7655 1873-0221
DOI:	10.1016/S0928-7655(01)00046-X