Fundamental to policies of sustainable development is the assumption that values will not depreciate through time. This assumption is inconsistent with the economic approach to policy-making. Economic analysis, by interpreting social values in terms of money, necessarily discounts values in the...

Discounting is a problem because of the striking discrepancy between, on the one hand, its impact on the results of economic costâbenefit analyses and, in consequence, on economic and political planning, and, on the other, its doubtful rational and moral justification. Starting from the...

Fundamental to policies of sustainable development is the assumption that values will not depreciate through time. This assumption is inconsistent with the economic approach to policy-making. Economic analysis, by interpreting social values in terms of money, necessarily discounts values in the...

Discounting is a problem because of the striking discrepancy between, on the one hand, its impact on the results of economic cost–benefit analyses and, in consequence, on economic and political planning, and, on the other, its doubtful rational and moral justification. Starting from the...