1. sustainable development is non-declining human welfare over time
2. future should be compensated for damage done by current generations
3. compensation is best secured by leaving next generation a stock of capital assets no less than we have now
4. capital assets = human-made and natural assets
5. natural capital can be run down if human-made capital can be substituted for it
6. environment has to be valued in same way as human-made assets
7. if true value of environment were known we would not degrade it as much
8. for some environmental assets there is no question of an acceptable trade-off

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