New York Paper - Conservation and Economic Theory

Conservation, narrowly and strictly considered, means the preservation in unimpaired efficiency of the resources of the earth; or in a condition so nearly unimpaired as the nature of the case, or wise exhaustion, admits. And broadly considered, it means more than the word itself implies, for it naturally includes an examination of methods whereby the natural inheritance of the human race may be improved; and still more broadly considered—and as used in popular discussion—it includes a treatment of the effects of productive conservation measures upon distribution. We shall give our attention briefly to the main points in this informal definition before we pass on to the thesis that conservation is largely a matter of property relations—-that a wise conservation policy means wise property relations.