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Pigou and Future Generations: A Cambridge Tradition

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  • Collard, David

Abstract

In The Economics of Welfare and elsewhere, A. C. Pigou took the view that future people should be treated equally with present people. He stressed our defective telescopic faculty, mortality, and weak linkages over time and argued that the present generation would consequently devote too few resources to investment, particularly in human capital. Pigou linked his argument with the then contemporary controversies about natural resource conservation and about eugenics. This 'Cambridge tradition' holds that issues of generational justice leave an important role for the state and cannot be resolved simply at the level of the individual or the family. (c) 1996 Academic Press Limited Copyright 1996 by Oxford University Press.

Suggested Citation

  • Collard, David, 1996. "Pigou and Future Generations: A Cambridge Tradition," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(5), pages 585-597, September.
    • Handle: RePEc:oup:cambje:v:20:y:1996:i:5:p:585-97
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    Cited by:

    1. Marion Gaspard & Antoine Missemer, 2019. "An inquiry into the Ramsey-Hotelling connection," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 26(2), pages 352-379, March.
    2. Franco, Marco P.V. & Gaspard, Marion & Mueller, Thomas, 2019. "Time discounting in Harold Hotelling's approach to natural resource economics: The unsolved ethical question," Ecological Economics, Elsevier, vol. 163(C), pages 52-60.
    3. Sheila Dow, 2020. "Alfred Marshall, Evolutionary Economics and Climate Change: Raffaelli Lecture," Department Discussion Papers 2001, Department of Economics, University of Victoria.
    4. Khan, Urmee & Stinchcombe, Maxwell B., 2018. "Planning for the long run: Programming with patient, Pareto responsive preferences," Journal of Economic Theory, Elsevier, vol. 176(C), pages 444-478.
    5. Karen Knight & Michael McLure, 2012. "The Elusive Arthur Pigou," Economics Discussion / Working Papers 12-05, The University of Western Australia, Department of Economics.
    6. Jean-Sébastien Lenfant & Jérôme Lallement, 2004. "L'équilibre général comme savoir : de Walras à nos jours," Working Papers hal-01765036, HAL.
    7. Geir B. Asheim, 2014. "Equitable intergenerational preferences and sustainability," Chapters, in: Giles Atkinson & Simon Dietz & Eric Neumayer & Matthew Agarwala (ed.), Handbook of Sustainable Development, chapter 8, pages 125-139, Edward Elgar Publishing.
    8. Marion Gaspard, 2005. "Individual Behaviors and Collective Welfare: Ramsey's " microfoundations " of " macro-equilibrium "," Post-Print halshs-01162036, HAL.
    9. Levy, David M. & Peart, Sandra J., 2004. "Statistical prejudice: from eugenics to immigrants," European Journal of Political Economy, Elsevier, vol. 20(1), pages 5-22, March.
    10. Pedro Garcia Duarte, 2013. "A Path Through the Wilderness: Time Discounting in Growth Models," Working Papers, Department of Economics 2013_18, University of São Paulo (FEA-USP).

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