The Impact of Realization of Intergenerational Justice on National Capital Assets Accumulation

In the 1970s, such terms as "intergenerational equality", "intergenerational justice" and "intergenerational fairness" were used extensively in different research works’ titles and in the theoretical and applied research texts. In this regard, the most important views are to be found in Hartwick's work (1977) which, adopting a justice-oriented approach, answered the question of how to exploit the revenues of exhaustible natural resources, which answer came to be known as Hartwick's rule. Accordingly, the present paper, ignoring the conceptual challenges regarding the issue of “intergenerational justice”, considers the Hartwick's rule as a basis for the intergenerational justice’s being materialized, and, modelling Iranian macroeconomic situation, tries to analyze the effect of investing revenues of exporting oil and natural gas, as the strategy for realizing the intergenerational justice, on intertemporal and long run capital assets accumulation level as one of the most important factors of stable development and growth. The results show that trying to realize the intergenerational justice inutilizing the nation’s oil and gas resources considerably enhances capital accumulation’s long-term trend, which in turn promises economic growth and development in a long period.