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Intergenerational equity in a model of endogenous growth

Author

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  • D'ASPREMONT, Claude
  • GERARD-VARET, Louis-André
  • MICHEL, Philippe

Abstract

The main difficulties in trying to derive and apply social welfare criteria, such as utilitarianism or maximin, to the problem of intergenerational justice come from time-irreversibility. Future generations cannot compensate for a sacrifice made by earlier ones, or ask for just sharing of past resources that were wasted. There is a possible altruistic approach to intergenerational equity. However, it requires that the altruism of future generations be secured. In any case, intergenerational equity is not only a matter of gifts from present to future generations. It is also an issue of ‘retro-gifts’ which have to be socially contracted. In economic terms, this is translated into the problem of finding a just rate of savings, taking into account both the well-being of the present generation and the productivity of capital for future generations and considering the impossibility of ex post transfers from future generations to present ones.
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Suggested Citation

  • D'ASPREMONT, Claude & GERARD-VARET, Louis-André & MICHEL, Philippe, 2000. "Intergenerational equity in a model of endogenous growth," LIDAM Reprints CORE 1486, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:1486
    Note: In : L.-A. Gérard-Varet, S.-C. Kolm and J. Mercier Ythier (eds.), The Economics of Reciprocity, Giving and Altruism. London, MacMillan Press, 248-259, 2000
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