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Dear Rahul

I get your point and I've challenged a few academics in my country since I read about it in your reply to my post last month. It's politically expedient to accept the status quo...that perfectly suits the current global insatiable appetite for natural resources. As co-heirs of these assets with all preceding and future generations, we ought to think of natural resources on the lines of national museum treasures...each succeeding generation being only entitled to the revenues treasures housed in these national institutions generate and never allowed to sell them to private collectors and selfishly squander the proceeds on current wants and needs; as result greatly compromise the economic capacity of future generations.

I should add, in some recent discussions, the key difference between our approach and Green Accounting became clear. While green accounting looks at the nation (GDP, national savings) to change the discourse, we look at the government finances, in particular, revenue and the revenue deficit.