Oxford Uehiro Prize in Practical Ethics: Why We Should Negatively Discount the Well-Being of Future Generations
This essay was the winner in the undergraduate category of the 8th Annual Oxford Uehiro Prize in Practical Ethics
Written by Matthew Price, University of Oxford Student
Practical ethicists and policymakers alike must grapple with the problem of how to weigh the interests of future people against those of contemporary people. This question is most often raised in discussions about our responsibility to abate climate change,1 but it is also pertinent to the mitigation of other existential risks, disposal of nuclear waste, and investment in long-term scientific enterprise. To date, most of the debate has been between those who defend the practice of discounting future generations’ well-being at some positive rate and those who argue that the only morally defensible discount rate is zero.2 This essay presents an argument for a negative discount rate:
- There is reason to believe that the well-being of those who are more morally deserving counts for more.
- There is reason to expect that future people will be more morally deserving than we are now.