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To: LLCF who wrote (25386)	11/13/2002 7:28:45 AM
From: Moominoid	Read Replies (1) \| Respond to of 74559

taking into account the damage done to all the life forms on the planet, investment may very well have a large negative return. We'll have to check that out in future lifetimes. :O) Just what I was teaching in my class on Monday: "false comparative advantage" in trade.... i.e. countries trading on the basis of using overly cheap environmental resources. Maybe the return on capital is taking away from future generations? Well the counterfactual we have to compare the situation with is where everything had a price on it which reflected a "sustainability constraint". There might be slower and different economic growth, but I still think there would be investment of capital and a positive return in the long-run. The return might be lower when full payment would be made for using environmental resources but the cost would also be spread to labor too which also probably gets a free ride... David