Current issue: 53(3)
Under compilation: 53(4)
The article has two parts: the first are the common principles of forestry and forest economics and the second part presents different theories of forest economics. The aim of the study is to find out how the best possible economic result can be achieved from forest management and use of forest resources.
The first part presents the economic foundations of forestry; the division between following the concept of economic profitability in forestry and forest management; concepts of capital and operating result in forestry; and productivity and profitability. It discusses the idea of economy as a dynamic entity instead of static.
In the second part the different economic theories related to forestry and forest economics are presented. Theory on the highest interest on forest capital, theory of sustained yield management system, land rent theory, theory on forest profitability and dynamic economic theory are discussed.The PDF contains a summary in Finnish.
There are several competing theories about forestry: school on continuous forest management system, school on profitability of forestry and a dynamic view on economics. The article discusses the pros and cons of the different theories or viewpoints and wider the essence of forest as an economic asset.
To serve the needs of the practical forestry and the economics related to forests the forestry needs to seek for standardization in relation to growth potential of the forests and market orientation of the timber. A modern theory of forestry needs to base itself on both.
The volume 34 of Acta Forestalia Fennica is a jubileum publication of professor Aimo Kaarlo Cajander.