Volume 9, No. 2 (Summer 2006)
The economic theory of intergenerational sustainability is essentially neoclassical in nature and purports to provide a prescriptive framework for deciding how current generations can use “available resources” to assure and enhance the well being of both current and future generations. Intergenerational sustainability is premised on the notion that this generation is failing to meet its societal or public responsibility to “maintain” a “broadly defined capital stock” for the purpose of sustaining a broadly defined income for the benefit of future generations.
