ABSTRACT
This chapter aims to define "conservation" of physical characteristics of resource use—specifically the changes of rates of use occurring during various intervals throughout a time period. "Conservation" and its corollary "depletion" describe changes from an initial state weighted according to the time incidence of changes. In contrast to this definition, it is necessary to specify an additional term, involving valuation and value judgments. Taxation can be used as a substitute for the price system and as a supplementary or countermanding system. The reason for expressing this view regarding the broad usefulness of taxation as a tool for obtaining social objectives of conservation policy is the closer conceptual and operational connection between taxation and public expenditure. In conservation policy, special emphasis needs to be given to "negative taxation," that is, tax bonuses. Such bonuses may consist of depletion or depreciation allowances, reduction or deferment of taxes, and outright supports and subsidies.
