Thanks for the response. This is cool info, but I’m not convinced. I wonder if there is value that exists but can’t be captured by individuals alive today, causing them to not care.
That post on sustainability I disagree with. I don’t think we understand enough about technological advance to plan for specific future technologies, except in the short term.
I wonder if there is value that exists but can’t be captured by individuals alive today, causing them to not care.
Yes I think this is very plausible—indeed, I donate to MIRI! But as I noted above, this is an argument against positive interest rates in general, not anything specific to fossil fuels. If interest rates were negative, backwards induction in asset prices would lead to current prices accurately reflecting future values.
That is interesting. My knowledge here is pretty limited. If interest rates were lower, saving would be lower and so technological progress would be slower—unless, I guess, governments intervened to make folks save.
Thanks for the response. This is cool info, but I’m not convinced. I wonder if there is value that exists but can’t be captured by individuals alive today, causing them to not care.
That post on sustainability I disagree with. I don’t think we understand enough about technological advance to plan for specific future technologies, except in the short term.
Yes I think this is very plausible—indeed, I donate to MIRI! But as I noted above, this is an argument against positive interest rates in general, not anything specific to fossil fuels. If interest rates were negative, backwards induction in asset prices would lead to current prices accurately reflecting future values.
That is interesting. My knowledge here is pretty limited. If interest rates were lower, saving would be lower and so technological progress would be slower—unless, I guess, governments intervened to make folks save.
http://reflectivedisequilibrium.blogspot.com/2014/06/increasing-and-improving-saving-as.html
What might other concrete effects of artificially low interest rates be?