There is a large body of research devoted to understanding sustainable growth in resource-based economies. Some of this research cannot be applied to real economies directly because the initial states of real economies do not match the initial states assumed in the models. Using a model of...

This paper analyzes a social planner's solution in a resource-based economy under a constant-utility criterion. The utility function includes social progress in a multiplicative form. The resulting paths of consumption include the patterns of growth that are conventionally used in the...