Let us take a closer look at this ‘natural capital’. First of all, and most obviously, there are the fossil fuels. No-one, I am sure, will deny that we are treating them as income items although they are undeniably capital items. If we treated them as capital items, we should be concerned with conservation; we should do everything in our power to try and minimise their current rate of use; we might be saying, for instance, that the money obtained from the realisation of these assets – these irreplaceable assets – must be placed into a special fund to be devoted exclusively to the evolution of
...more
