The definition of sustainability seems to lack a recognition of intertemporal substitution. That is, it isn’t clear that these elements must be met period-by-period. Indeed, we have witness air pollution in the past that was part of an economic growth episode that provided incomes that allowed cleaner (than the start) air. Along the way, we violated the 3rd bulleted principle in a period-by-period sense. But we lived it out over a reasonable small number of periods. Because you seem to be working from Daly, I don’t know I’d suggest altering the bullets. But perhaps you could add a sentence noting that there is a question of whether one must (morally) fulfill the bullets period-by-period vs. over modest time.
The definition of sustainability seems to lack a recognition of intertemporal substitution. That is, it isn’t clear that these elements must be met period-by-period. Indeed, we have witness air pollution in the past that was part of an economic growth episode that provided incomes that allowed cleaner (than the start) air. Along the way, we violated the 3rd bulleted principle in a period-by-period sense. But we lived it out over a reasonable small number of periods. Because you seem to be working from Daly, I don’t know I’d suggest altering the bullets. But perhaps you could add a sentence noting that there is a question of whether one must (morally) fulfill the bullets period-by-period vs. over modest time.