10 Oct '11, 9am

Changing the Way We Value the Future in Climate Change Economics

Changing the Way We Value the Future in Climate Change Economics

Still, you might ask, why should we mess with a system that has afforded us our many luxuries? Broadly, assumptions about our ability to innovate our way out of catastrophe without mitigating intermediary steps are presumptuous at best. At worst, they leave us open to immense risk from climate change-induced events. The Earth itself will survive, but how long we survive on it remains subject to our choices. Our current process of discounting at very high rates leaves that decision to almost entirely exogenous factors – such as the hope that technology (by way of economic growth) will save us. Never mind that the most commonly discussed renewable technologies, wind and solar, still require substantial fossil fuel inputs for construction and transportation. When we begin to think in different terms, starting with a fundamental re-envisioning of the value of future generation...

Full article: http://www.triplepundit.com/2011/10/changing-value-future...

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