Book Description

Globalization leveraged pressure on contemporary society. Global systemic risks of climate change and overindebtedness in the aftermath of the 2008/09 World Financial Crisis currently raise attention for intergenerational fairness. In a history of turning to natural law as a human-imbued moral compass for solving societal predicaments on a global scale in times of crises; behavioral socio-economists currently examine the human natural drive towards intergenerational fairness. The monograph promotes the idea of intergenerational equity in the corporate world as an alternative means to coordinating the common goods and imbuing economic stability beyond a purely governmental approach. The outlined intergenerational equity constraints herald a call for intergenerational equity ? the fairness to provide an at least as favorable standard of living as enjoyed today. Whilst evolutionary grounded and practiced ever since, intergenerational fairness has not been attributed as a natural behavioral law ? a human-imbued drive being bound by human fallibility. A whole-rounded ethical decision making anomalies frame is missing to test the applicability of the bounded ethicality paradigm onto intergenerational concerns. Behavioral socio-economics insights? potential to improve human intergenerational conscientiousness on financial social responsibility and environmental ethicality is underexplored. The proposed monograph thus targets at theoretically defining intergenerational equity as a natural behavioral law, capturing human ethicality bounds echoing in institutional system downfalls as well as provide socio-economic intergenerational fairness nudges in the domains of financial social responsibility, social welfare provision for an aging Western world population as well as environmental ethicality regarding natural resources depletion and climate change. Implications and recommendations for the implementation of intergenerational equity will be provided. As an implicit contract and transfer inbetween living and future generations, intergenerational equity avoids discriminating against future generations and ensures future infrastructure, equal opportunities over time and constant access to social welfare for the youth. Intergenerational equity grants a favorable climate between generations and alleviates frictions arising from the negative impacts of intergenerational inequity. Outlining some of the causes of the current intergenerational imbalances regarding climate stability and overindebtedness prepares for recommendations on how to implement intergenerational transfers.