Erich Walter Zimmermann (July 31, 1888 – February 16, 1961) was a resource economist. He was an economist at the University of North Carolina and later the University of Texas.
Zimmermann of the Institutional school of economics[1] called his real world theory the functional theory of mineral resources. His followers have coined the term resourceship to describe the theory.[2] Unlike traditional descriptive inventories, Zimmermann's method offered a synthetic assessment of the human, cultural, and natural factors that determine resource availability.
Zimmermann rejected the assumption of fixity. Resources are not known, fixed things; they are what humans employ to service wants at a given time. To Zimmermann (1933, 3; 1951, 14), only human "appraisal" turns the "neutral stuff" of the earth into resources.[3] What are resources today may not be tomorrow, and vice versa. According to Zimmermann, "resources are not, they become."[4] "According to the definition of ew Zimmerman, the word ,"resource " does not refer to a thing but to a function which a thing may perform to an operation in which it may take part,namely,the function or operation of attaining a given end such a satisfying a want.
Bibliography edit
- “Resources of the South”, The South-Atlantic Quarterly (July 1933)
- World Resources and Industries: A Functional Appraisal of the Availability of Agricultural and Industrial Resources (1933) New York: Harper & Brothers
- World Resources and Industries, 2nd revised ed. (1951) New York: Harper & Brothers
References edit
- ^ Phillips, Ronnie, ed. (1995). Economic Mavericks: The Texas Institutionalists. Emerald Group Publishing. pp. 151–83. ISBN 978-1559384674.
- ^ Bradley Jr., Robert (22 October 2010). "Dear Peak Oilers: Please Consider Erich Zimmermann's 'Functional Theory' of Mineral Resources". MasterResource. Retrieved 14 August 2015.
- ^ Bradley Jr., Robert L. (Fall 2004). "ARE WE RUNNING OUT OF OIL? - "FUNCTIONAL THEORY" SAYS NO". Property and Environment Research Center. Archived from the original on 6 September 2015. Retrieved 14 August 2015.
- ^ "ZIMMERMANN, ERICH WALTER". Texas State Historical Association. Retrieved 14 August 2015.