The YouTube Time Machine
yttm.tv
yttm.tv
All in all, the video does make me realize just how far we've come in 100 years. I'm so happy to be during the turn of this century versus the turn of the last century.
Imagine all the old people becoming youthful overnight, changing plans for hundred of million of people. No longer will they remain feeble adults living in their twilight years, they will be badass on the market using their superior experience to out-compete us youngsters.
No, thanks.
If we use the prevent value of recurring payments equation (http://en.wikipedia.org/wiki/Present_value#Annuities.2C_perp...) to consider the present value of 60 years, with a modest discounting rate of 6%, we get:
> = 16.161427705238
The same number for 600 years is:
> = 16.6666666666667
For context, the incremental difference between 50 and 60 years is about the same as for the additional 500+.
That far out the incremental present value of a year of life drops to basically zero. Which is to say, for many people (the vast majority, I might guess), the value of these far-off experiences may end up being academic, and thus not factor into their decisions particularly strongly.
Certainly some people would be affected - those with low subjective discounting rates, which is to say, future-oriented people. And certainly on the margin it would make people more cautious, but if the premise holds, the effect might not be as far-reaching as you suspect.
In fact, now that I think about it places like that do exist... While on vacation I think I visited a place where people lived and worked as if they were in colonial times.
I'd love to spend a few days living 'in' a particular time period. And then get back to reality.
could be useful resource for folks studying history of a certain year or period