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Most recently, in 2011 PriceWaterhouseCoopers conducted a survey of FTSE-100 and 250 executives, the majority of which chose a low return option sooner (£250,000 tomorrow) rather than a high return later (£450,000 in 3 years). This suggested annual discount rates of over 20%.
I think the problem is not actually one of cost-benefit calculations, but has more to do with short attention spans. Nobody wants to think about having to come back 5 years from now to see if the problem stays solved, even less about being bogged down with monthly check-ups. People want to move on to the next shiny.
tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
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