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Because of the time value of money (that is, a dollar today can be invested to yield more than a dollar tomorrow), a project's costs and benefits in different periods are not comparable. Therefore, a discount rate that will convert future sums into present values is used in cost-benefit...
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affecting present and future generations. Discounting constitutes a first way but leads to some difficulties when fairness must … Jonas’s responsibility principle. In this way, discounting can be used under some limits regarding economic decisions. …
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