The social rate of discount for nuclear waste storage: economics or ethics

Journal Article · Thu Oct 01 04:00:00 EDT 1981 · Nat. Resour. J.; (United States)

OSTI ID:5360606

Schulze, W D; Brookshire, D S; Sandler, T

The traditional economic approach for evaluating alternative policies has been the use of benefit-cost analysis. Application of this tool, however, to broad social questions, such as the choice to store nuclear wastes, has been unsuccessful because of several philosophical and ethical problems raised, first, by the need to value risks to human life and, second, with valuing in present terms events which may occur thousands of years hence. This paper is an attempt to look beyond traditional ethical and economic perspective. Formal economic models of alternative decision criteria for nuclear waste storage are developed which are based on alternative ethical positions.In particlular, three ethical positions are developed for comparison to benefit-cost analysis. First, the utilitarian ethic is used to explore the notion that the proper goal for society is to pursue the greatest good for the greatest number. Secondly, a simplified libertarian viewpoint is explored where the protection of individual rights is more important than the good of the whole. The final ethical position is based upon the democratic ethic. (JMT)

• Research Organization: Univ. of Wyoming, Laramie
• OSTI ID: 5360606
• Journal Information: Nat. Resour. J.; (United States), Journal Name: Nat. Resour. J.; (United States) Vol. 21:4; ISSN NRJOA
• Country of Publication: United States
• Language: English

Related Subjects

052002* -- Nuclear Fuels-- Waste Disposal & Storage
12 MANAGEMENT OF RADIOACTIVE AND NON-RADIOACTIVE WASTES FROM NUCLEAR FACILITIES
29 ENERGY PLANNING, POLICY, AND ECONOMY
290600 -- Energy Planning & Policy-- Nuclear Energy
COST BENEFIT ANALYSIS
DECISION MAKING
ECONOMIC ANALYSIS
ECONOMICS
ETHICS
MANAGEMENT
RADIOACTIVE WASTE STORAGE
RISK ASSESSMENT
SOCIAL IMPACT
STORAGE
WASTE MANAGEMENT
WASTE STORAGE