Moroney argues that with low interest rates and low inflation, the presentvalue of future profits goes up and so do the multiples investors are willing to pay for companies with higher profit growth.
Measuring economic costs weighs the expense of both vaccination and illness against the net presentvalue of the future earnings of someone who would otherwise die from the disease.
Tax reform proposals should be assessed based upon the presentvalue of future federal revenues, and not on the revenues that they are expected to bring in during the current fiscal year.