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I review the complex welfare economic issues that arise in environmental decision-making over very long periods, as in cases relating to climate change and biodiversity loss. I also consider the issues that arise in choosing a discount rate to apply to very long-run projects and indicate how...
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Undiscounted utilitarianism as a criterion of intergeneration justice has been questioned for different reasons: It has … allocation must involve discounting, and (2) that undiscounted utilitarianism subjects the present generation to heavy demands …-nologies) that undiscounted utilitarianism is so malleable that any efficient and non-decreasing allocation can be the unique optimum …
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