Hartwick Rule of Inter-Generational Equity

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Guy Standing:

"The commons belong not just to current generations, but to those who follow us as well. This leads to what is known as the Hartwick Rule of Inter-Generational Equity. Revenue raised from the sale or use of common resources must only be paid out if that does not deplete what is available for future generations. This requires us to distinquish between exhaustible (non-renewable) commons, such as oil and minerals, non-exhaustible (renewable), like land, water, air, skyline and ideas, and replenishable commons, such as forests.

What is proposed is that levies be made on all uses of our commons, with the proceeds used to compensate the commoners, as a matter of social justice. If government were allowed to decide on how the resultant revenue were spent, almost certainly the equality principle would be sacrificed. So, the next step should be the establishment of a Permanent Commons Fund, into which the levies would be placed and reinvested." (https://www.opendemocracy.net/en/oureconomy/plunder-commons-compensate-commoners/?)