ABSTRACT
Long-term problems such as climate change or the over-exploitation of natural resources are characterized by the fact that the costs and benefits of addressing the problems are split up between different generations. Current and future climate change is caused by previous economic activities. Measures to mitigate CO2 emissions will not have an immediate impact, but rather will only be effective in the long term. However, the costs of mitigation will be borne by the current generation. The loss of biodiversity, the overexploitation of ground water or land is subject to similar difficulties. The current institutional framework – largely based on principles of liberalism and pluralism – is not well equipped to overcome such difficulties; future generations are weakly represented – if at all – in decisions on the use of natural and economic resources. Hence, a central challenge to effective long-term policies is the development and establishment of conditions for appropriate political frameworks and institutions for long-term and sustainable action.
