Sustainable Development Flashcards
1
Q
The Veil of Ignornance
A
ignorance to who, where, and when your are
2
Q
The Sustainability Criterion
A
suggests that, at a minimum, no future generation should be worse off then the current generation
3
Q
Hartwick Rule
A
a constant level of consumption could be maintained perpetually if all scarcity rent is invested in capital
4
Q
Scarcity/Resource Rent
A
income derived from the ownership of a scarce resource; the Excess Income from owning the scarce resource in comparison to utilizing someone else’s resource
5
Q
Total Capital Stock
A
all natural resources AND man-made resources; “Weak Sustainability”
6
Q
Natural Capital
A
all natural resources; “Strong Sustainability”
7
Q
Specific Resource Stock
A
resource that was extracted/harvested; “Environmental Sustainability”
