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Discounting: Understanding Sustainable Development
This lecture by the instructor covers the concepts of sustainability, environmental economics, and wealth accounting. It delves into the different types of capital, the weak and strong conditions for sustainable development, and the importance of discounting in decision-making processes. The lecture also explores intertemporal arbitrage, rate of return, and examples of investment analysis. Through the discussion of estimating a stock of capital and the significance of the discount rate, students gain insights into making informed decisions regarding long-term investments and resource management.