A Question of Fudge: Professor Nordhaus on climate change and mitigation policy

This paper is an outline and critique of William Nordhaus' book A Question of Balance (2008), in which he proposes his optimal policy for dealing with global climate change. Nordhaus finds that the proposals of the Stern Review and that of Al Gore are inefficient and costly. The critique of Nor...

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Bibliographic Details
Published in:World economics (Henley-on-Thames, England) England), 2009-01, Vol.10 (1), p.91
Main Author: Dore, Mohammed HI
Format: Article
Language:English
Subjects:
Carbon dioxide
Climate change
Emissions control
Environmental policy
Online Access:Get full text
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Summary:This paper is an outline and critique of William Nordhaus' book A Question of Balance (2008), in which he proposes his optimal policy for dealing with global climate change. Nordhaus finds that the proposals of the Stern Review and that of Al Gore are inefficient and costly. The critique of Nordhaus is focused on (1) the structure of his model, which requires marginal costs he equal to marginal benefits everywhere and at all time periods, and that (2) the rate of discount he based on the opportunity cost of private capital, and (3) his failure to treat climate change as a global public good. [PUBLICATION ABSTRACT]
ISSN:1468-1838
1474-3884