Framing Ecological Values In The Global Natural Resource Economics

Generation-based approach to natural resource economics has been developed in the article. Based on sustainable development definition, generations can be categorized by present and future ones. An ecological classification of the global natural resources has been proposed, which is related to future generations. Economic issues of eco-futuristic classification have also been raised in the article. Classification of ecological values has been proposed and ecological values being incorporated into a form of ecological culture and exploited as a new factor of production have been analyzed. The effect of increasing marginal futuristic utility of ecological values has been revealed at the end of the article.