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This study examines the costs and benefits of an aggressive program of global action to limit the greenhouse effect. Cline summarizes the issues from the standpoint of an economist and estimates the damages of long-term warming.
Climate change threatens the economy of the United States in myriad ways, including increased flooding and storm damage, altered crop yields, lost labor productivity, higher crime, reshaped public-health patterns, and strained energy systems, among many other effects. Combining the latest climate models, state-of-the-art econometric research on human responses to climate, and cutting-edge private-sector risk-assessment tools, Economic Risks of Climate Change: An American Prospectus crafts a game-changing profile of the economic risks of climate change in the United States. This prospectus is based on a critically acclaimed independent assessment of the economic risks posed by climate change commissioned by the Risky Business Project. With new contributions from Karen Fisher-Vanden, Michael Greenstone, Geoffrey Heal, Michael Oppenheimer, and Nicholas Stern and Bob Ward, as well as a foreword from Risky Business cochairs Michael Bloomberg, Henry Paulson, and Thomas Steyer, the book speaks to scientists, researchers, scholars, activists, and policy makers. It depicts the distribution of escalating climate-change risk across the country and assesses its effects on aspects of the economy as varied as hurricane damages and violent crime. Beautifully illustrated and accessibly written, this book is an essential tool for helping businesses and governments prepare for the future.
Climate science paints a bleak picture: The continued growth of greenhouse gas emissions is increasingly likely to cause irreversible and catastrophic effects. Urgent action is needed to prepare for the initial rounds of climatic change, which are already unstoppable. While the opportunity to avert all climate damage has now passed, well-designed mitigation and adaptation policies, if adopted quickly, could still greatly reduce the likelihood of the most tragic and far-reaching impacts of climate change. Climate economics is the bridge between science and policy, translating scientific predictions about physical systems into projections about economic growth and human welfare that decision makers can most readily use but it has too often consisted of an overly technical, academic approach to the problem. Getting climate economics right is not about publishing the cleverest article of the year but rather about helping solve the dilemma of the century. The tasks ahead are daunting, and failure, unfortunately, is quite possible. Better approaches to climate economics will allow economists to be part of the solution rather than part of the problem. This book analyzes potential paths for improvement.
This unique and erudite second edition can be used at three different levels – advanced undergraduate, post-graduate and doctoral. It comprehensively covers the critical issues on the economics of climate change and climate policy features and clearly identifies the specific sections each level of reader should explore. Topics include the costs and benefits of adaptation and mitigation, discounting, uncertainty, policy instruments, and international agreements. Lectures can be combined with exercises, guided reading, or the building and application of an integrated assessment model. The book is accompanied by a website with background material, data, opinion pieces and videos. Although primarily intended for use in the classroom, anyone with an interest in climate policy can use this text as a reference.
This book is a philosophical critique of the economics of climate change from both an ethical and philosophy of economics perspective. Mitigating climate change is not so much a scientific problem, but rather a political, social and above all an economic problem. A future without greenhouse gas emissions requires a radical transformation towards a sustainable low-carbon economy and society. How this transformation could be achieved raises numerous economic questions. Many of these questions remain untouched, although economists are equipped with a suitable toolkit and expertise. This book argues that economists have a social responsibility to carry out more research on how global warming could be stopped and that, ultimately, economic analysis of climate change must be a political economic approach that treats the economy as part of a wider social system. This approach will be of interest to policy makers, educators, students and researchers in support of more pluralism in economic research and teaching.
An “essential” (Times UK) and “meticulously researched” (Forbes) book by “the skeptical environmentalist” argues that panic over climate change is causing more harm than good Hurricanes batter our coasts. Wildfires rage across the American West. Glaciers collapse in the Artic. Politicians, activists, and the media espouse a common message: climate change is destroying the planet, and we must take drastic action immediately to stop it. Children panic about their future, and adults wonder if it is even ethical to bring new life into the world. Enough, argues bestselling author Bjorn Lomborg. Climate change is real, but it's not the apocalyptic threat that we've been told it is. Projections of Earth's imminent demise are based on bad science and even worse economics. In panic, world leaders have committed to wildly expensive but largely ineffective policies that hamper growth and crowd out more pressing investments in human capital, from immunization to education. False Alarm will convince you that everything you think about climate change is wrong -- and points the way toward making the world a vastly better, if slightly warmer, place for us all.
Climate change is profoundly altering our world in ways that pose major risks to human societies and natural systems. We have entered the Climate Casino and are rolling the global-warming dice, warns economist William Nordhaus. But there is still time to turn around and walk back out of the casino, and in this essential book the author explains how.div /DIVdivBringing together all the important issues surrounding the climate debate, Nordhaus describes the science, economics, and politics involved—and the steps necessary to reduce the perils of global warming. Using language accessible to any concerned citizen and taking care to present different points of view fairly, he discusses the problem from start to finish: from the beginning, where warming originates in our personal energy use, to the end, where societies employ regulations or taxes or subsidies to slow the emissions of gases responsible for climate change./DIVdiv /DIVdivNordhaus offers a new analysis of why earlier policies, such as the Kyoto Protocol, failed to slow carbon dioxide emissions, how new approaches can succeed, and which policy tools will most effectively reduce emissions. In short, he clarifies a defining problem of our times and lays out the next critical steps for slowing the trajectory of global warming./DIV
The 2nd edition of An Introduction to Climate Change Economics and Policy explains the key scientific, economic and policy issues related to climate change in a completely up-to-date introduction for anyone interested, and students at all levels in various related courses, including environmental economics, international development, geography, politics and international relations. FitzRoy and Papyrakis highlight how economists and policymakers often misunderstand the science of climate change, underestimate the growing threat to future civilization and survival and exaggerate the costs of radical measures needed to stabilize the climate. In contrast, they show how direct and indirect costs of fossil fuels – particularly the huge health costs of local pollution – actually exceed the investment needed for transition to an almost zero carbon economy in two or three decades using available technology.
Global climate change cannot be understood without knowing the fundamental principles of science, economics and politics that condition our policy choices. To that end, the contributors to this volume, experts in their respective fields, take a comprehensive look at the major issues involved. This volume is written for policymakers and informed citizenry who want to understand at a general level the complexities of global climate change without becoming enmeshed in technical minutia. The introduction emphasizes the core fact that climate change issues cut across disciplines. William Schlesinger and Gerald North explain the carbon cycle and how increased greenhouse gases impact temperature. The economics papers deal with the applicability of benefit/cost analysis and then proceed to examine the benefits of avoiding temperature change versus the costs of the various CO2 abatement options. Finally, David Victor, a Stanford political scientist, asks which policies are feasible in a world where the incentives differ dramatically among countries. The book closes with open letters to the President of the United States.
Despite the growing consensus on the need for action to counteract climate change, complex economic and political forces have so far prevented international actors from making much headway toward resolving the problem. Most approaches to climate change are based in economics and environmental science; in this book, Parkash Chander argues that we can make further progress on the climate change impasse by considering a third approach—game theory. Chander shows that a game-theoretic approach, which offers insight into the nature of interactions between sovereign countries behaving strategically and the kinds of outcomes such interactions produce, can illuminate how best to achieve international agreements in support of climate-change mitigation strategies. Game Theory and Climate Change develops a conceptual framework with which to analyze climate change as a strategic or dynamic game, bringing together cooperative and noncooperative game theory and providing practical analyses of international negotiations. Chander offers economic and game-theoretic interpretations of both the Kyoto Protocol and the Paris Agreement and argues that the Paris Agreement may succeed where the Kyoto Protocol failed. Finally, Chander discusses the policy recommendations his framework generates, including a global agreement to support development of cleaner technologies on a global scale.