http://mises.org/Community/blogs/donny/archive/2008/02/14/cost-benefit-analysis-discounting-and-climate-change.aspx[Cross-posted on the parent blog ] I wrote a paper last semester on the notion of discounting future damage (I&#39;ll explain what this means below), and I wanted to revisit the issue now that I&#39;ve done a little more research, to see if I still agreeenCommunityServer 2008.5 SP2 (Build: 40407.4157)http://mises.org/Community/blogs/donny/archive/2008/02/14/cost-benefit-analysis-discounting-and-climate-change.aspx#19098Fri, 15 Feb 2008 11:37:21 GMT944abf2b-d1be-4bf2-990d-438cb0e377e9:19098TokyoTom<p>Donny, I don't think that you've at all demonstrated that we don't discount - viz., that we try to make decisions on the basis that the preferences of people who do not exist today should weigh as much as our own.</p> <p>I would disagree with that conclusion myself. &nbsp;Clearly individuals act on the basis of their own preferences, which preferences may take into consideration the supposed preferences of others, including those of future generations. &nbsp;These others simply don't have a vote on what my preferences are - and is the collective actions of billions of individuals alive today that similarly make decisions that bring about tomorrow.</p> <p>You might take a look at my blog post on Richard Tol and Marty Weitsman on CBA in the context of climate change. &nbsp;Further commentary by others is here: &nbsp;<a rel="nofollow" target="_new" href="http://www.marginalrevolution.com/marginalrevolution/2008/01/critique-of-mar.html">www.marginalrevolution.com/.../critique-of-mar.html</a>.</p> <p>Regards,</p> <p>TT</p> <p><a rel="nofollow" target="_new" href="http://www.marginalrevolution.com/marginalrevolution/2008/01/critique-of-mar.html">www.marginalrevolution.com/.../critique-of-mar.html</a></p> <div style="clear:both;"></div><img src="http://mises.org/Community/aggbug.aspx?PostID=19098" width="1" height="1">