Can We Afford the Future?: The Economics of a Warming World (The New Economics)

According to many scientists, climate change is a growing threat to life as we know it, requiring a large-scale, immediate response. According to many economists, climate change is a moderately important problem; the best policy is a slow, gradual start, to avoid spending too much. They can't both be right. In this book, Frank Ackerman offers a refreshing look at the economics of climate change, explaining how the arbitrary assumptions of conventional theories get in the way of understanding this urgent problem. The benefits of climate protection are vital but priceless, and hence often devalued in cost-benefit calculations. Preparation for the most predictable outcomes of global warming is less important than protection against the growing risk of catastrophic change; massive investment in new, low carbon technologies and industries should be thought of as life insurance for the planet. Ackerman makes an impassioned plea to construct a better economics, arguing that the solutions are affordable and the alternative is unthinkable. If we can't afford the future, what are we saving our money for? Can we Afford the Future? is part of The New Economics series, which uses the ideas behind a new, more human economics to provide a fresh way of looking at major contemporary issues. In This Book, Frank Ackerman Offers A Refreshing Look At The Economics Of Climate Change, Explaining How The Arbitrary Assumptions Of Conventional Theories Get In The Way Of Understanding This Urgent Problem. The Benefits Of Climate Protection Are Vital But Priceless, And Hence Often Devalued In Cost-benefit Calculations. Preparation For The Most Predictable Outcomes Of Global Warming Is Less Important Than Protection Against The Growing Risk Of Catastrophic Change; Massive Investment In New, Low-carbon Technologies And Industries Should Be Thought Of As Life Insurance For The Planet. Ackerman Makes An Impassioned Plea To Construct A Better Economics, Arguing That The Solutions Are Affordable And The Alternative Is Unthinkable. If We Can't Afford The Future, What Are We Saving Our Money For? Can We Afford The Future? Is Part Of The New Economics Series, Which Uses The Ideas Behind A New, More Human Economics To Provide A Fresh Way Of Looking At Major Contemporary Issues.--page [4] Cover. 1. The Status Quo Is Not An Option -- 2. Your Grandchildren's Lives Are Important -- 3. We Need To Buy Insurance For The Planet -- 4. Climate Damages Are Too Valuable To Have Prices -- 5. Some Costs Are Better Than Others -- 6. Hot, It's Not : Climate Economics According To Lomberg -- 7. Much Less Wrong : The Stern Review Vs Its Critics -- 8. Climate, Equity And Development -- 9. What Is To Be Done? Frank Ackerman. Includes Bibliographical References (p. [140]-145) And Index. This is a clear, readable first book for the non-economist, to start understanding the economics around climate change, and the various differing arguments by economists. Unlike climate *science*, where most real scientists agree on the fundamentals, it seems that real economists have some fundamental arguments about climate *economics*, although that might be because I have more exposure to the former than the latter. It is often hard for a layperson learning a new topic to know whether disagreements are serious or relatively minor. In any case, it really helps to have a good overview of the arguments, before diving into the details. I've studied the Stern Review, the Nordhaus DICE model, Lomborg books, other books, other papers, and other discussions ... and reading this book first would certainly have saved me effort. So, start here, then sample his references for other viewpoints. I especially liked his 4 bumper stickers, which handily summarize the book: Your grandchildren's lives are important We need to buy insurance for the planet Climate damages are too valuable to have prices Some costs are better than others

In this book, Frank Ackerman offers a refreshing look at the economics of climate change, explaining how conventional economic theories get in the way of understanding this urgent problem. The benefits of climate protection are vital but priceless, and often devalued in cost-benefit calculations. Modest preparation for the most predictable outcomes of global warming is less important than secure protection against the growing risk of catastrophic change; massive investment in new, low carbon technologies and industries is life insurance for the planet. Ackerman makes an impassioned plea to construct a better economics, arguing that if we can't afford the future, what are we saving our money for?

Acknowledgements; 1 The status quo is not an option; 2 Your grandchildren's lives are important; 3 We need to buy insurance for the planet; 4 Climate damages are too valuable to have prices; 5 Some costs are better than others; 6 Hot, it's not: climate economics according to Lomborg; 7 Much less wrong: the Stern Review versus its critics; 8 Climate, equity, and development; 9 What is to be done?; Notes; References; Index Offers a look at the economics of climate change, explaining how the arbitrary assumptions of conventional theories get in the way of understanding this problem. This book states that the benefits of climate protection are vital but priceless, and hence often devalued in cost-benefit calculations.