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Busan Map on Second, if the model of technological improvements and substitution effects suggested by the technological optimists is correct, basic commodity prices will tend to fall over time as metals and minerals become relatively less scarce. In fact, the real price of most metals has fallen over the past half-century. As pointed out by economist Jagdish Bhagwati, in cases where a country produces a significant portion of the world’s total output of a particular commodity, attempts to increase economic output through expanding production may lead to world prices that are lowered to the point where the country experiences the paradoxical case of immiserizing growth. Finally, unlike manufacturing economies where production can easily change from one product to another, countries that specialize in mining production do not tend to be able to transform the productive capacity of the economy to other uses when the mineral resources are exhausted. Mining and the environment. Mining came under increasing criticism in the later years of the 20th century due to its impact on the environment. Metals mining alone produces over 5 billion tons of tailings waste each year. Busan Map 2016.

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