Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/30792
Authors: 
Weikard, Hans-Peter
Year of Publication: 
1996
Series/Report no.: 
Finanzwissenschaftliche Diskussionsbeiträge 11
Abstract: 
The value concept of traditional resource economics is welfare. Therefore, sustainability of welfare is often taken to characterise our obligations to future generations. This paper argues that this view is inappropriate because it leaves no room for future generations autonomy. Future generations should be free to make their own decisions. Consequently freedom of choice is the appropriate value concept on which resource economics should be based. The concept of sustainability receives a new interpretation. Sustainability is a principle of intertemporal distributive justice which requires equitable opportunities across generations.
JEL: 
Q20
D63
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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