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Economics and the Challenge of Global Warming

Global warming is theenvironmental issue of the twenty-first century. Many believe it ranks with war and poverty as one of the greatest challenges to human well-being. But unlike war and poverty, which humanity has confronted for millennia, global warming is a recent concern. And unlike war and poverty, global warming is mainly a pro-spective threat and one that can in principle be met with pre-emptive action. Understanding and responding to global warming requires many scientific disciplines including meteorology, climatology, and ocean-ography; the full array of biological and ecological sciences; and the engineering disciplines. But while science is a necessary component of. | CHARLES s. PEARSOX ECONOMICS and the CHALLENGE Of GLOBAL WARMING more information -www.cambridge.org 9781107011519 Cambridge Cambridge This page intentionally left blank Economics and the Challenge of Global Warming Economics and the Challenge of Global Warming is a balanced rigorous and comprehensive analysis of the role of economics in confronting global warming the central environmental issue of the twenty-first century. It avoids a technical exposition to reach a wide audience and is up to date in its theoretical and empirical underpinnings. It is addressed to all who have some knowledge of economic concepts and a serious interest in how economics can and cannot help in crafting climate policy. The book is organized around three central questions. First can cost-benefit analysis guide us in setting warming targets Second what strategies and policies are cost-effective Third and most difficult can a global agreement be forged between rich and poor the global North and South Although economic concepts are foremost in the analysis they are placed within an accessible ethical and political matrix. The book serves as a primer for the post-Kyoto era. Charles S. Pearson is Senior Adjunct Professor of International Economics and Environment at the Diplomatic Academy of Vienna and Professor Emeritus at the School of Advanced International Studies SAIS Johns Hopkins University Washington DC. During his tenure at SAIS he directed the International Economics Program for seventeen years and taught at all three campuses in Washington Bologna and Nanjing. His teaching and research reflect a deep interest in international environmental economics. He pioneered seminars on trade and environment the role of multinational corporations and environmental cost-benefit analysis. His books reflect these interests with research on global warming published as early as 1978. They include Environment North and South International Marine Environment Policy and Economics and the Global .