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Midtown Brews
New conversations advancing regional transformation. |
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Reg-Markets Center Update August 2008 Update 08-17 Climate Change and Discounting the Future: A Guide for the Perplexed David Weisbach and Cass R. Sunstein. August 2008. Some of the most important
disagreements about how aggressively to respond to the threat of
climate change turn on the choice of the discount rate. The debate
between the two sides reflects a disagreement between the positivists,
who argue for a market rate, and the ethicists, who urge that the
positivist approach violates the duty of the present to the future. We argue that the
positivists are largely right, and that the question of discounting
should be separated from the question of the ethical duties of the
present. Discounting is a means of taking account of opportunity costs,
and a refusal to discount may well hurt, rather than help, future
generations. Also of Interest FDA Preemption of State Tort Law in Drug Regulation: Finding the Sweet Spot Peter H. Schuck. August 2008.
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