The Economics of Climate Change Scientists have been making a great deal of progress in both describing the conditions that create climate change and in predicting the future effects of our current level of greenhouse gas production. However, the potentially disastrous effects of climate change cannot be averted without a solid understanding of the underlying economic principles at work as well. Nicholas Stern attempts to do just that in The Global Deal, which is his attempt to bring the findings of a 700 page review commissioned by the British government to a mass market. As a result the book is somewhat light on hard data, but does a sufficient job of illuminating the basic economic realities. Though there are many parts to Stern’s...The end:
.....e must be a debate about how to use our resources, However it is likely that an combination of these approaches will be the ultimate result. If nations to agree to voluntary caps, they will likely be forced to levy taxes on carbon production as well, so that they have a way of collecting the revenue that will be needed to fund new technologies and to monitor current production. Ultimately, the time for debate is nearing its end and elements of both strategies must be employed as soon as possible. Works Cited Stern, Nicholas. The Global Deal. New York: PublicAffairs, 2009. Nordhaus. William. “Economic Issues in Designing a Global Agreement on Global Warming.” Climate Change: Global Risks, Challenges, and Decisions. Copenhagen, Denmark: 2009.