The Foreseeable Future

Brian Hayes ()

Chapter 11 in Keynesian, Sraffian, Computable and Dynamic Economics, 2021, pp 257-271 from Springer

Abstract: Abstract What do we owe posterity? How much of our income are we entitled to consume, and how much should we save or invest for the benefit of future generations? A number of theorists have addressed these questions in a framework where the future is unbounded; the results of such studies tend to be dominated by the behavior of the model in the regime where the time variable approaches infinity. Arguments are presented here for setting a time horizon no more than a few generations forward, in order to raise the likelihood that the favors we do for the future will actually be welcome there.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-58131-2_11

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DOI: 10.1007/978-3-030-58131-2_11

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