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 |
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Keywords
- Environmental discounting
- Project economic evaluation
- Sustainable development
ASJC Scopus subject areas
- Control and Systems Engineering
Cite this
Discounting the future - A need for a fresh look. / Malik, Arif S.
2008 IEEE International Systems Conference Proceedings, SysCon 2008. 2008. p. 167-170 4519004.Research output: Chapter in Book/Report/Conference proceeding › Conference contribution
}
TY - GEN
T1 - Discounting the future - A need for a fresh look
AU - Malik, Arif S.
PY - 2008
Y1 - 2008
N2 - 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.
AB - 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.
KW - Environmental discounting
KW - Project economic evaluation
KW - Sustainable development
UR - http://www.scopus.com/inward/record.url?scp=49049098900&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=49049098900&partnerID=8YFLogxK
U2 - 10.1109/SYSTEMS.2008.4519004
DO - 10.1109/SYSTEMS.2008.4519004
M3 - Conference contribution
AN - SCOPUS:49049098900
SN - 9781424421503
SP - 167
EP - 170
BT - 2008 IEEE International Systems Conference Proceedings, SysCon 2008
ER -