The attitude of future generations towards environmental assets may well be different from ours. Even if we are tempted to believe that their sensitivity to environmental matters will be greater than ours, because of environmental depletion, we cannot make sure of that. This paper analyses the...

This paper studies the undiscounted utilitarian optimal paths of the canonicalDasgupta-Heal-Solow model when the stock of natural capital is a direct argument ofwell-being, besides consumption. We use a Keynes-Ramsey rule which yields a generalization of Hartwick?s rule : if society has a zero...