The question of `discounting the future' is one on which philosophers and economists have divergent professional views. There is a lot of talking at cross-purposes across the disciplinary divide here; but there is a fair bit of confusion (I think) within disciplines as well. My aim here is essentially clarificatory. I draw several distinctions that I see as significant:• between inter-temporal and intergenerational questions• between price (discount rate) and quantity (inter-temporal and intergenerational allocations) as the ethically relevant magnitude, and• between price change and preference change as the primary instrument of change.I show that discounting does not violate the principle of inter-temporal and intergenerational neutrality, but I also cast some doubt on whether making adequate allowance for future generations has really been the problem that economists and philosophers seem to have taken it to be.
