Forestry in the long sweep of history.

Abstract

This paper describes the long-term economic dynamics of the forest sector which is driven by the depletion of natural forests. It is emphasized that the dynamics rely heavily on both technological innovation and capital/resource substitution - the substitution of capital for timber in the manufacture of forest products, and the substitution of capital for land in the production of timber. Based on this analysis, two areas of contemporary forest policy: (1) the appropriate role of timber plantations in timber supply, and (2) the appropriate role for forest in climatic change policy, are examined.