The Ethics of Climate Change
John Broome, Professor of Moral Philosophy at the University of Oxford and previously a professor of economics at the University of Bristol, has a very interesting analysis of the ethics of climate change in the Scientific American . the ethical issue he focuses on this this: future generations will benefit the most from the current generation's efforts to stop climate change, but the evidence is that future generations will be richer. As any economist will tell you, in doing a cost-benefit analysis, a critical factor is the selection of the discount rate. As I previously noted , the Stern Report did an economic analysis that set the discount rate very low. Broome explains why this makes sense from a moral point of view. It is a long article. Here are some excerpts: Climate change raises a number of ethical questions. How should we—all of us living today—evaluate the well-being of future generations, given that they are likely to have more material goods than we do? Many people, s...