Economics, environment and equity

Although allocation of scarce resources among alternative uses to satisfy unlimited human wants in the positivist framework (a la Lionel Robbins)has been a focus of economists for a long time, awareness of resource scarcity in the ecological sense and discussion of the relevant issues in the context of distributive justice, as well as intergenerational equity, are of more recent vintage. A perspective encompassing judicious use of natural resources inevitably leads to a discussion which includes ecological, economic and ethical dimensions. This essay examines the contributions included in a recent book. Certain elements of today’s ecological crisis reveal its moral character. First among these is the indiscriminate application of advances in science and technology. Many recent discoveries have brought undeniable benefits to humanity Unfortunately, it is now clear that the application of these discoveries in the fields of industry and agriculture have produced harmful longterm effects. This has led to the painful realization thatwe cannot interfere in one area of the ecosystem without paying due attention both to the consequences of such interference in other areas and to the well-being of future generations. (Message of Pope John Paul II for the celebration of the World Day of Peace, January 1, 1990.)