Future Environmental Economics
According to the article, Impacts on Future Environmental Economics, in evaluating policy decisions, governments often leave out a very important group: the people of the future. Economic and environmental decisions often fail to take into account the well-being of future inhabitants of the planet. It goes on to say that the discount factor is used to determine the worth of something in the future, and a discount factor of 1 means it will become more valuable in the future, where as, a discount factor less than 1 means that the value will decrease in the future. Because so many goods have discount factors of less than 1, some people would argue that the current generation should not worry about future generations in this respect. The current generation would only be sacrificing its own well-being, and growth will cause future generations to have higher living standards anyways. In the end it says that environmentalists would argue that we must uphold our moral obligation to future generations. What do you think about this article? Do you agree with the environmentalists and do you really think people don’t care about future inhabitants of our planet?