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Although the euro may eventually have a profound effect by improving price transparency and allowing big cost savings, these benefits lie largely in the future.
IN THE continuing controversies about Europe's bold experiment in monetary union, there has at least been some agreement about where the costs and benefits lie.
Rather the benefits lie in the ability to configure interdisciplinary teams around the practical problems presented by the outside world, in the economies of scale involved in equipment centres and doctoral training, and in the broader pro-research culture in a research-intensive university that ensures that people get the time and space to achieve top-class results.
In the real world, however, you may well choose to delay your start-date again.In a 1999 paper* on the economics of procrastination, Ted O'Donoghue and Matthew Rabin pointed out that people are often unrealistically optimistic about their own future likelihood of doing things—such as exercise or saving that involve costs at the time they are done, but whose benefits lie even further ahead.
These elements along with strong emphasis on respect for the principles of non-interference and national sovereignty, rejection of hierarchy and the pursuit of common benefits lie at the core of new development partners' activities (Mawdsley 2012: 152).
And if the effects will only be felt by generations in the future, why should present generations take actions whose harms will be felt now and whose benefits lie in the future and will not be experienced by those bearing the costs?
Similar(46)
And until more time passes, estimating the likelihood and magnitude of those benefits lies in the realm of politics, not economics.
Mexicans knew that the trade pact's benefits lay as a reward beyond this rough patch.
However, taking the normal development time for new drugs into account, an assessment of their clinical benefits lies in the more distant future.
On some level, perhaps, it is (though by definition, the real commercial benefit lies elsewhere).
For him, the benefit lies not in preservation but in transformation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com