In Aristoteles' bestem Staat ist die Wirtschaft an politischen Vorgaben ausgerichtet, die ihrerseits ethisch determiniert sind. Aristoteles bemüht sich um empirische Absicherung, soweit diese mit seinen ethischen Axiomen konform geht. Bei der Zurückweisung der platonischen Weiber- und...

In this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neoclassical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an...

This paper analyses the choice of an inter-generational discount rate as well as a method for inter-generational discounting. It is shown that the pure time preference rate is irrelevant for inter-generational comparisons. However, the application of the growth time preference rate - with...

Ecological damages have to be evaluated in monetary terms for implementation in an economic analysis. Economic theory is based upon individual preferences (methodological individualism): Ecological damages can only be socially evaluated when individual values are available. However, in sharp...