Ethics and economics: Lewis Gray and the conservation question
José Luis Ramos Gorostiza
: In “The Economic Possibilities of Conservation” , Lewis Gray reinterpreted from an economic point of view the idea of conservation which had popularized the American Conservation Movement. He linked intergenerational equity and non-renewable resource extraction rate. Gray’s article can be considered as an antecedent of two significant debates in modern natural resource economics. On the one hand, it is a direct precedent of the environmental discussion about the meaning of discounting. On the other, it is an important element in the historical conformation of the sustainability debate.
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