Abstract
The past models of the development process have tended to assume that the 'future will look after itself, whereas, the sustainable development approach acknowledges that the ability of the future to do this can be seriously impaired by actions taken now. It is because of this, the practice of discounting the future, a standard feature of the economic approach to inter-temporal decision-making, is discussed critically in this paper. The paper argues that in the sustainability context we need a systems' thinking approach when discounting the future.
| Original language | English |
|---|---|
| Title of host publication | 2008 IEEE International Systems Conference Proceedings, SysCon 2008 |
| Pages | 167-170 |
| Number of pages | 4 |
| DOIs | |
| Publication status | Published - 2008 |
| Event | 2008 IEEE International Systems Conference Proceedings, SysCon 2008 - Montreal, QC, Canada Duration: Apr 7 2008 → Apr 10 2008 |
Other
| Other | 2008 IEEE International Systems Conference Proceedings, SysCon 2008 |
|---|---|
| Country | Canada |
| City | Montreal, QC |
| Period | 4/7/08 → 4/10/08 |
Keywords
- Environmental discounting
- Project economic evaluation
- Sustainable development
ASJC Scopus subject areas
- Control and Systems Engineering
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Cite this
Malik, A. S. (2008). Discounting the future - A need for a fresh look. In 2008 IEEE International Systems Conference Proceedings, SysCon 2008 (pp. 167-170). [4519004] https://doi.org/10.1109/SYSTEMS.2008.4519004