If human history is any guide, the future will be much richer than the present; and it makes no sense to say that the relatively impoverished present should transfer its resources to the far wealthier future. And if the present generation sacrifices itself by foregoing economic growth, it is likely to hurt the future too, because long-term economic growth is likely to produce citizens who live healthier, longer, and better lives.
My only footnote is that every generation does transfer resources to the far wealthier future. We do it out of love, mostly and from time to time, some other motivations. But we make all kinds of sacrifices for our children to make their lives better than our own and we do it willingly.
My post from January 2007, referring to Megan McArdle & Arnold Kling on environmental discount rates, when I first started advocating for Global Warming contracts.
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