Discounting the future - A need for a fresh look

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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 languageEnglish
Title of host publication2008 IEEE International Systems Conference Proceedings, SysCon 2008
Pages167-170
Number of pages4
DOIs
Publication statusPublished - 2008
Event2008 IEEE International Systems Conference Proceedings, SysCon 2008 - Montreal, QC, Canada
Duration: Apr 7 2008Apr 10 2008

Other

Other2008 IEEE International Systems Conference Proceedings, SysCon 2008
CountryCanada
CityMontreal, QC
Period4/7/084/10/08

    Fingerprint

Keywords

  • Environmental discounting
  • Project economic evaluation
  • Sustainable development

ASJC Scopus subject areas

  • Control and Systems Engineering

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