Intergenerational Ethics under Resource Constraints

Geir B. Asheim ()

Swiss Journal of Economics and Statistics (SJES), 2005, vol. 141, issue III, pages 313-330

Abstract: When evaluating long-term policies, economists usually suggest to maximize the sum of discounted utilities. On the one hand, discounted utilitarianism was given a solid axiomatic foundation by Koopmans (Econometrica 1960). On the other hand, this criterion has questionable implications when applied to economic models with resource constraints. This raises the question: What ethical conditions for intergenerational distribution should and can be imposed? I use my discussion of such conditions to illuminate the conflict between equity and efficiency that has been a central theme in the axiomatic literature on intergenerational justice. Moreover, a guide to some recent contributions is presented.

Keywords: Intergenerational justice; Discounted utilitarianism; Sustainability (search for similar items in EconPapers)
JEL-codes: D63 D71 Q01 (search for similar items in EconPapers)
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