Ethics and economics: Lewis Gray and the conservation question

José Luis Ramos Gorostiza
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José Luis Ramos Gorostiza: Departamento de Historia e Instituciones Económicas I. Universidad Complutense de Madrid., https://www.ucm.es/histecon1

No 02-06, Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales from Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales

Abstract: In “The Economic Possibilities of Conservation” [1913], Lewis Gray reinterpreted from an economic point of view the idea of conservation which had popularized the American Conservation Movement. He linked intergenerational equity and non-renewable resource extraction rate. Gray’s article can be considered as an antecedent of two significant debates in modern natural resource economics. On the one hand, it is a direct precedent of the environmental discussion about the meaning of discounting. On the other, it is an important element in the historical conformation of the sustainability debate.

Keywords: Gray; Conservation; Natural resource economics; Discounting; Intergenerational equity. (search for similar items in EconPapers)
Pages: 24 pages
Date: 2002
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