2026/02/02 by Robrecht Declercq, Henk-Jan Dekker, Lucas Marquet-Ellis +1 · 1 voice
Economics, Econometrics and Finance · Social Sciences · #Historical Economic and Social Studies #Historical and socio-economic studies of Spain and related regions #Political and Economic history of UK and US
paper · doi:10.1080/09672567.2026.2619723
openalex publication_date 2026/02/02 · openalex created_date 2026/02/03 · openalex updated_date 2026/07/28
Belgium experienced early industrialisation based on coal. Economists soon realised that these resources were essential for development, with coal being referred to as the “black bread” of the industry. Gradually, attention turned to the mining sector as a source of social stability, political empowerment, and national cohesion. Coal became a source of “white bread.” This article examines these evolving views from the 1840s to the 1930s, arguing that Belgian society experienced multidimensional carbon lock-in. It also analyses early Belgian theoretical contributions to the economics of exhaustible resources.