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Fundamental Incompatibility between Economic Efficiency, Intergenerational Equity and Sustainability

In: Intergenerational Equity and Sustainability

Author

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  • Naoki Yoshihara

Abstract

In this chapter, we consider intergenerational resource allocations in production economies with joint production of public bads. The technological character in this production model is that the emission of the public bad is unavoidable in the production of private goods. Then, the emitted public bads are accumulated through every generation’s economic activity, and the accumulated public bads stay in the stratosphere or under the ground over a long period of time. Thus, the current emission of public bads by the current generation may affect the living conditions of succeeding generations rather than itself. A typical example of such public bads is greenhouse gases (primarily carbon dioxide) in global warming.

Suggested Citation

  • Naoki Yoshihara, 2007. "Fundamental Incompatibility between Economic Efficiency, Intergenerational Equity and Sustainability," International Economic Association Series, in: John Roemer & Kotaro Suzumura (ed.), Intergenerational Equity and Sustainability, chapter 17, pages 337-357, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-0-230-23676-9_17
    DOI: 10.1057/9780230236769_17
    as

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