Systems approach and Discounting: A need to think globally and act globally

Arif S. Malik

doi:10.1109/SYSTEMS.2009.4815780

Systems approach and Discounting: A need to think globally and act globally

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

This paper 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 hierarchical systems approach argument the paper emphasizes that in order to save the super hierarchical system (humanity as a whole and biosphere as a whole in our case) the capitalist economic system has to undergo into the release phase to allow renewal through the emergence of an ecological economy so that the humanity and global ecosystem may persist.

Original language	English
Title of host publication	2009 IEEE International Systems Conference Proceedings
Pages	104-109
Number of pages	6
DOIs	https://doi.org/10.1109/SYSTEMS.2009.4815780
Publication status	Published - 2009
Externally published	Yes
Event	2009 IEEE International Systems Conference - Vancouver, BC, Canada Duration: Mar 23 2009 → Mar 26 2009

Publication series

Name	2009 IEEE International Systems Conference Proceedings

Other

Other	2009 IEEE International Systems Conference
Country/Territory	Canada
City	Vancouver, BC
Period	3/23/09 → 3/26/09

ASJC Scopus subject areas

Control and Systems Engineering
Electrical and Electronic Engineering

Access to Document

10.1109/SYSTEMS.2009.4815780

Cite this

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title = "Systems approach and Discounting: A need to think globally and act globally",

abstract = "This paper 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 hierarchical systems approach argument the paper emphasizes that in order to save the super hierarchical system (humanity as a whole and biosphere as a whole in our case) the capitalist economic system has to undergo into the release phase to allow renewal through the emergence of an ecological economy so that the humanity and global ecosystem may persist.",

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language = "English",

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AB - This paper 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 hierarchical systems approach argument the paper emphasizes that in order to save the super hierarchical system (humanity as a whole and biosphere as a whole in our case) the capitalist economic system has to undergo into the release phase to allow renewal through the emergence of an ecological economy so that the humanity and global ecosystem may persist.

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BT - 2009 IEEE International Systems Conference Proceedings

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ER -

Systems approach and Discounting: A need to think globally and act globally

Abstract

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