This book addresses the issues of intergenerational equity, intertemporal efficiency, and collective rationality of social decision-making. How should the welfare of future generations be treated vis-a-vis the welfare of present generation? How should we design and implement social security reforms? How can we formalize the notion of sustainable economic development, and what are the conditions that warrant the sustainability of development path? In the context of the problem of global warming, where a large part of those who are responsible for causing the problem do not exist anymore, and a large part of those who will be most severely affected by the problem do not yet exist, why and how should the present generation assume responsibility to take actions against this problem? Contributions come from distinguished economists who specialize in this area, and are tied by the common thread of taking a welfare-theoretic approach to the problem.
Introduction; J.Roemer & K.Suzumura
PART 1: EQUITY AMONG OVERLAPPING GENERATIONS
Pension Contributions and Capital Accumulation; T.Ihori
Equity and Efficiency in Overlapping Generations Economies; T.Shinotsuka, K.Suga, K.Suzumura & K.Tadenuma
Social Security Pensions and Interregional Equity: The Japanese Case; N.Takayama
PART 2: RANKING INFINITE UTILITY STREAMS
A New Equity Condition for Infinite Utility Streams and the Possibility of Being Paretian; G.B.Asheim, T.Mitra & B.Tungodden
Possibility Theorems for Equitably Aggregating Infinite Utility Systems; K.Basu & T.Mitra
On the Existence of Paretian Social Welfare Quasi-orderings for Infinite Utility Streams with Extended Anonymity; T.Mitra & K.Basu
Pareto Principle and Intergenerational Equity: Immediate Impatience, Universal Indifference and Impossibility; Y.Xu
PART 3: INTERGENERATIONAL EVALUATIONS
Formal Welfarism and Intergenerational Equity; C.d'Aspremont
Intertemporal Social Evaluation; C.Blackorby, W.Bossert & D.Donaldson
Intergenerational Fairness; M.Fleurbaey
Person-Affecting Paretian Egaliterianism with Variable Population Size; B.Tungodden & P.Vallentyne
PART 4: SUSTAINABILITY AND HUMAN DEVELOPMENT
Intergenerational Justice and Sustainability under the Leximin Ethic; J.Roemer
Intergenerational Justice, International Relations, and Sustainability; J.Roemer & R.Veneziani
Intergenerational Equity and Human Development; J.Silvestre
PART 5: LONG-RUN ISSUES OF INTERGENERATIONAL EQUITY
Toward a Just Savings Principle; N.Van Long
Normative Approaches to the Issues of Global Warming: Responsibility and Compensation; K.Suzumura & K.Tadenuma
Fundamental Incompatibility Between Economic Efficiency, Intergenerational Equity and Sustainability; N.Yoshihara
Index
JOHN ROEMER is Elizabeth S. and A. Varick Professor of Political Science and Economics at Yale University, USA. His recent books include Political Competition, Equality of Opportunity, Theories of Distributive Justice and Democracy, Education and Equality. He is a fellow of the Econometric Society and a corresponding fellow of the British Royal Academy.
KOTARO SUZUMURA is Professor of Economic Systems Analysis at the Institute of Economic Research, Hitotsubashi University, Japan. His books include Rational Choice, Collective Decisions and Social Welfare, and Competition, Commitment, and Welfare. He is a Fellow of the Econometric Society, and was a President of the Japanese Economic Association (1999-2000) as well as a President of the Society for Social Choice and Welfare (2000-2001).
Description
This book addresses the issues of intergenerational equity, intertemporal efficiency, and collective rationality of social decision-making. How should the welfare of future generations be treated vis-a-vis the welfare of present generation? How should we design and implement social security reforms? How can we formalize the notion of sustainable economic development, and what are the conditions that warrant the sustainability of development path? In the context of the problem of global warming, where a large part of those who are responsible for causing the problem do not exist anymore, and a large part of those who will be most severely affected by the problem do not yet exist, why and how should the present generation assume responsibility to take actions against this problem? Contributions come from distinguished economists who specialize in this area, and are tied by the common thread of taking a welfare-theoretic approach to the problem.
Contents
Introduction; J.Roemer & K.Suzumura
PART 1: EQUITY AMONG OVERLAPPING GENERATIONS
Pension Contributions and Capital Accumulation; T.Ihori
Equity and Efficiency in Overlapping Generations Economies; T.Shinotsuka, K.Suga, K.Suzumura & K.Tadenuma
Social Security Pensions and Interregional Equity: The Japanese Case; N.Takayama
PART 2: RANKING INFINITE UTILITY STREAMS
A New Equity Condition for Infinite Utility Streams and the Possibility of Being Paretian; G.B.Asheim, T.Mitra & B.Tungodden
Possibility Theorems for Equitably Aggregating Infinite Utility Systems; K.Basu & T.Mitra
On the Existence of Paretian Social Welfare Quasi-orderings for Infinite Utility Streams with Extended Anonymity; T.Mitra & K.Basu
Pareto Principle and Intergenerational Equity: Immediate Impatience, Universal Indifference and Impossibility; Y.Xu
PART 3: INTERGENERATIONAL EVALUATIONS
Formal Welfarism and Intergenerational Equity; C.d'Aspremont
Intertemporal Social Evaluation; C.Blackorby, W.Bossert & D.Donaldson
Intergenerational Fairness; M.Fleurbaey
Person-Affecting Paretian Egaliterianism with Variable Population Size; B.Tungodden & P.Vallentyne
PART 4: SUSTAINABILITY AND HUMAN DEVELOPMENT
Intergenerational Justice and Sustainability under the Leximin Ethic; J.Roemer
Intergenerational Justice, International Relations, and Sustainability; J.Roemer & R.Veneziani
Intergenerational Equity and Human Development; J.Silvestre
PART 5: LONG-RUN ISSUES OF INTERGENERATIONAL EQUITY
Toward a Just Savings Principle; N.Van Long
Normative Approaches to the Issues of Global Warming: Responsibility and Compensation; K.Suzumura & K.Tadenuma
Fundamental Incompatibility Between Economic Efficiency, Intergenerational Equity and Sustainability; N.Yoshihara
Index
Authors
JOHN ROEMER is Elizabeth S. and A. Varick Professor of Political Science and Economics at Yale University, USA. His recent books include Political Competition, Equality of Opportunity, Theories of Distributive Justice and Democracy, Education and Equality. He is a fellow of the Econometric Society and a corresponding fellow of the British Royal Academy.
KOTARO SUZUMURA is Professor of Economic Systems Analysis at the Institute of Economic Research, Hitotsubashi University, Japan. His books include Rational Choice, Collective Decisions and Social Welfare, and Competition, Commitment, and Welfare. He is a Fellow of the Econometric Society, and was a President of the Japanese Economic Association (1999-2000) as well as a President of the Society for Social Choice and Welfare (2000-2001).
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