Scaramozzino, Pasquale; Marini, Giancarlo - In: Journal of Population Economics 13 (2000) 4, pp. 639-645
The observed practice of discounting the future should not be rationalised on the grounds of myopia or selfishness. A positive rate of pure time preference is necessary to ensure that heterogeneous generations are treated in an egalitarian fashion. A zero social discount rate would yield...
