The Hartwick rule as a conservation law

Pim Heijnen

No 08-11, CeNDEF Working Papers from Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance

Abstract: Using conservation laws, we provide a new proof of the Hartwick result, i.e. there is intergenerational equity if and only if net investment is constant. Subsequently, the technique is used to show that constant net investment does not indicate intergenerational equity if consumers value the existence of an essential non-renewable resource.

Date: 2008
New Economics Papers: this item is included in nep-env
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