Anonymous Quotes
Mainstream Economists Habitually Treat Asset Depletion As Income, While Ignoring The Value Of The Assets Themselves. If The Owner Of An Old-growth Forest Cuts It And Sells The Timber, The Market May Record A Drop In The Land's Monetary Value, But Otherwise The Ecological Damage Done Is Regarded As An Externality. Irreplaceable Biological Assets, In This Case, Have Been Liquidated; Thus The Benefit Of These Assets To Future Generations Is Denied. From An Ecosystem Point Of View, An Economy That Does Not Heavily Tax The Extraction Of Non-renewable Resources Is Like A Jobless Person Rapidly Spending An Inheritance.
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