Investing exhaustible resource rents and the path of consumption

We set out dollar‐valued net national product for an economy with a wasting essential stock (oil deposit). We take up ‘maintaining capital intact’ and locally unchanging consumption. The percentage change in ‘net investment’ or ‘genuine savings,’ relative to the market rate of interest, denotes whether current consumption is rising, constant, or declining. JEL classification: O13, Q28, F0