Chapter 5’s enquiry into evaluation methodology explicitly postponed consideration of projects’ environmental benefits and costs. In correcting this omission, it would be a mistake immediately to return at the level of the project. Projects, by their nature, are spatially delimited. In addition, project analysis is usually confined to relatively short periods of time (5, 10, 25 years) and the weight of later events, as we have seen, is powerfully reduced by discounting procedures. A prior task, in examining the interdependence of the economy and the environment in respect of water, is to develop a synoptic and long-term perspective. To use the language of Johan Åkerman, whereas the “time horizon” of project planners is short-and medium-term, the time horizon for society in respect of environmental change must be secular and the scale must be global (Åkerman 1960; Mjøset 1994:10-11).