The discounting presumably is to be done for each period of time at that rate of interest which represents the alternative cost of employing capital in the occupation in question; that is, at the rate which the entrepreneur could obtain in other investments
Kenneth E. BouldingAccounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods.
Kenneth E. BouldingThere are, of course, a number of epistemological questions, some of which lie more in the province of the philosopher than they do the economist or the social scientist. The one with which I am particularly concerned here is that of the role of knowledge in social systems, both as a product of the past and as a determinant of the future.
Kenneth E. Boulding