2min chapter

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#10 - Nick Beckstead on how to spend billions of dollars preventing human extinction

80,000 Hours Podcast

CHAPTER

The Importance of Time Discounting in Economics

The time discounting approach is not really accepted by almost any moral philosophers or really anyone who's thought about this kind of question from an ethical point of view. I suspect that economists who are putting this forward misunderstanding or perhaps answering a different question than the one that you are they're perhaps like discounting the value of capital rather than the value of direct morally valuable experiences, he says. "I think it goes a little bit crazy if it starts telling you that  a billion years of utopia that happens like a billion years from now is like worth of like less than a penny"

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