The 1967 Jackling Lecture - The Influence Of The Minerals Industry On General Economics

As our society grows in complexity, it becomes more urgently incumbent upon scientists and engineers to bring their experience to bear on the solution, not only of technical problems, but also on socio-economic difficulties. It is to this field that I have directed a large part of my energies. Raw Materials Basic to the Economic Process There are certain premises, frequently overlooked, which bear emphasis. As economics concerns the production, distribution, and consumption of goods, so our whole society is based on raw materials. Without the basic extractive industries of agriculture and mining, there would be no economic problems with which to deal. This principle has been expressed as: "All productivity is based on three factors: (1) natural resources, whose form, place, and condition are changed by the expenditure of (2) human energy (both muscular and mental), with the aid of (3) tools."*