Intergenerational equity in economic, psychological, and sociological contexts, is the concept or idea of fairness or justice in relationships between children, youth, adults and seniors, particularly in terms of treatment and interactions. It has been studied in environmental and sociological settings.[1] In the context of institutional investment management, intergenerational equity is the principle that an endowed institution's spending rate must not exceed its after-inflation rate of compound return, so that investment gains are spent equally on current and future constituents of the endowed assets. This concept was originally set out in 1974 by economist James Tobin, who wrote that, "The trustees of endowed institutions are the guardians of the future against the claims of the present. Their task in managing the endowment is to preserve equity among generations."[2] in terms of an economical context. Intergenerational equity refers to relationship that a particular family has on resources. An example is the forest-dwelling civilians in Papua New Guinea, who for generations have lived in a certain part of the forest and thus becomes their land. The adult population sell the trees for palm oil to make money. If they do so at an unsustainable level there will be no resources for their children or grandchildren in the future. The unsustainable use of resources would then lead to Intergenerational inequity.
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| Environmental law |
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| Pollution control and remediation |
| Air Hazardous substances Waste Water |
| Resource conservation and management |
| Fisheries Forests Historic sites Minerals Oil and gas Parks Species Water |
| Planning, land use, and infrastructure |
| Impact review Municipal planning Land use Transportation infrastructure Energy infrastructure Environmental justice |
| Related topics |
| Administrative law Bankruptcy law Energy law Insurance law International law |
Conversations about intergenerational equity occur across several fields.[3] They include transition economics[4], social policy, and government budget-making.[5] Intergenerational equity is also explored in environmental concerns[6], including sustainable development[7], global warming and climate change.
Conversations about intergenerational equity are also relevant to social justice arenas as well, where issues such as health care[8] are equal in importance to youth rights and youth voice are pressing and urgent. There is a strong interest within the legal community towards the application of intergenerational equity in law.[9]
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