Explain the relevance of intergenerational equity in the definition of sustainable development - Economics - Unit III- Environment and Sustainable Development

Question

Explain the relevance of intergenerational equity in the
definition of sustainable development

Bhawna Madaan · Accepted Answer

Meeting the basic needs of all that requires the distribution of
resources is our moral obligation It becomes obligatory to hand
over the earth to the future generation in a good order But, it is
realised that if the resources (non renewable) are utilised fully,
then these will deplete so fast that it will reduce the production
capacity of the future generations The economic development
achieved today in such manner cannot be sustained for a long time
as the production capacity of the future generations in absence of
productive resources reduces Therefore, sustainable development is
the process of economic development that aims at meeting the needs
of the present generation without comprising the needs of the
future generations Sustainable development maximises the welfare of
both present and future generations This development does not mean
a check on the existing pace of economic growth It only means a
judicious or optimum utilisation of resources in such a manner that
pace of economic growth sustains with inter generational equity

Explain the relevance of intergenerational equity in the definition of sustainable development.