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.
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