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We construct a new database of 48 economically-relevant commodities from 1957–2015, including estimates of worldwide production, reserves and prices. For almost all commodities, we find no trend in prices and exhaustion, while production has increased.
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Price signals appear to have guided consumption and provided incentives for innovation and substitution. Concerns about depletion appear less important than concerns about externalities, such as pollution and conflict, and ecosystem services where price signals are often absent.
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