Routledge Dictionary of Economics, Second Edition
intergenerational equity (H2)
Fairness, particularly in public finance, between this and future generations. According to the BENEFIT APPROACH TO TAXATION each generation should pay its own expenses, but in practice capital projects are often financed, as are wars, by public debt which burdens future generations.
References
Ferguson, J.M. (ed.) (1964) Public Debt and Future Generations, Chapel Hill, NC: University of North Carolina Press.
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