Just Discounting in Utilizing Exhaustible Natural Resources
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Abstract
In this paper the intergenerational justice is discussed through the subject "discounting" and explained that if discounting is just in social decisions or not and if so, is there any Islamic criterion for this important economic parameter?
Hence, the library research method and logical analysis of Islamic documents has been used to show that intergenerational justice is satisfied if by utilizing a specific amount of natural resources the same amount of resources be generated from other forms of capitals.
Finally, it is concluded that the discounting is not unjust if the above condition is satisfied. Otherwise, any positive and zero rate of discounting is unjust and it should be used a rate between zero and minus one if it is necessary to use the exhaustible natural resources.
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