We analyze growth dynamics in an economy where the well-being of economic agents depends on three goods: leisure, a free access environmental good and a private good that can be consumed as a substitute for the environmental resource. The processes of production and consumption of the private...

The way in which natural and physical capital are accumulated, distributed and harnessed underpins the functioning and sustainability of the productive system of each society as well as its social stratification. Significant changes in the interactions between natural and physical capital...