Justice to nature and to the disadvantaged

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

This article argues against using the practice of discounting and shows that both the time preference and the opportunity cost of capital arguments, put forward to justify discounting, are in conflict when we take the holistic approach to the environment. Both the time preference and the opportunity cost concepts are the tools to support the institution of interest. Using a hierarchical systems approach it is argued that in order to save the super hierarchical system (biosphere as a whole in our case) the contemporary economic system has to renew so that the humanity and global ecosystem may persist.

Original languageEnglish
Pages (from-to)106-114
Number of pages9
JournalWorld Futures: Journal of General Evolution
Volume67
Issue number2
DOIs
Publication statusPublished - Feb 2011

Keywords

  • Discounting
  • ecological system
  • economic system
  • interest
  • poverty
  • systems thinking

ASJC Scopus subject areas

  • Philosophy

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