World Economics - Insight , Analysis and Data

World Economics - Measuring the World Economy
Valuing the Future
David Pearce, Ben Groom, Cameron Hepburn & Phoebe Koundouri, World Economics, June 2003
One of the most controversial areas of economics is the practice of discounting: attaching a lower weight to future costs and benefits than present costs and benefits. Discounting appears to offend notions of sustainable development and the interests of future generations. Recent advances in the theory of discounting hold out strong hope that the ‘tyranny of discounting’ can be avoided through the use of time varying discount rates (TVDRs). This paper reviews the recent rationales for TVDRs and applies the results to issues such as nuclear power and global warming control.

Related thinking:
    Are There Limits to Green Growth?
Edward B. Barbier, World Economics, September 2015
    Measuring Natural Capital
Dariana Tani, World Economics, December 2014
    How to Reduce Carbon Emissions Equitably
Masud Ally and Wilfred Beckerman, World Economics, March 2014


Download paper


© Copyright World Economics Ltd. 2017