This timely Handbook recognizes the emergence of climate change as the defining topic of our time. With public climate discourse growing more urgent every year, this Handbook brings together international experts from different economic disciplines to answer critical climate policy questions. Chapters present key ideas and policies to support and accelerate advances in three key areas: the political economy of climate change and climate policy, integrated assessment modelling, and economic and resource sustainability. Contributors discuss the distributional implications of climate change and how policymakers may respond in order to contribute to economic transformation in the midst of a global crisis. With reference to both theoretical and applied economics, this Handbook is critical reading for economists working in the field of climate policy and climate change. It will also appeal to a broader group of environmental scientists and scholars. Contributors include: L.M. Abadie, G.B. Asheim, J.K. Boyce, W.A. Brock, M. Budolfson, G. Chichilnisky, N. Chichilnisky-Heal, F. Dennig, J. Doyne Farmer, D.K. Foley, I. Galarraga, R. Hahnel, J. Hartwick, G. Heal, C. Hepburn, C. Hope, D. Iris, A. Markandya, P. Mealy, T. Mitra, T. Narasimhan, F. Nesje, I. Parry, A. Rezai, E. Sainz de Murieta, N. Schofield, B. Shang, A. Tavoni, L. Taylor, R. van der Ploeg, N. Vernon, P. Wingender, C. Withagen, A. Xepapadeas

This is the first book combining research on the Global Environment, Catastrophic Risks and Economic Theory and Policy. Modern economic theory originated in the middle of the twentieth century when industrial expansion coupled with population growth led to a voracious use of natural resources and global environmental concerns. It is uncontested that, for the first time in recorded history, humans dominate the planet, changing the planet's atmosphere, its bodies of water, and the complex web of species that makes life on earth. This radical change in circumstances led to rethinking of the foundations of human organization and, in particular, the industrial economy and the economic theory behind it. This book brings together new approaches on multiple levels: environmental sustainability requires rethinking in terms of economic theory and policy as well as the considerations of catastrophic risk and extremal events. Leading experts address questions of economic governance, risk management, policy decision making and distribution across time and space.

This timely Handbook recognizes the emergence of climate change as the defining topic of our time. With public climate discourse growing more urgent every year, this Handbook brings together international experts from different economic disciplines to answer critical climate policy questions. Chapters present key ideas and policies to support and accelerate advances in three key areas: the political economy of climate change and climate policy, integrated assessment modelling, and economic and resource sustainability. Contributors discuss the distributional implications of climate change and how policymakers may respond in order to contribute to economic transformation in the midst of a global crisis. With reference to both theoretical and applied economics, this Handbook is critical reading for economists working in the field of climate policy and climate change. It will also appeal to a broader group of environmental scientists and scholars. Contributors include: L.M. Abadie, G.B. Asheim, J.K. Boyce, W.A. Brock, M. Budolfson, G. Chichilnisky, N. Chichilnisky-Heal, F. Dennig, J. Doyne Farmer, D.K. Foley, I. Galarraga, R. Hahnel, J. Hartwick, G. Heal, C. Hepburn, C. Hope, D. Iris, A. Markandya, P. Mealy, T. Mitra, T. Narasimhan, F. Nesje, I. Parry, A. Rezai, E. Sainz de Murieta, N. Schofield, B. Shang, A. Tavoni, L. Taylor, R. van der Ploeg, N. Vernon, P. Wingender, C. Withagen, A. Xepapadeas

This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley's work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are intellectual biographies that contextualize and identify Foley's contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises. The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.

This is the first book combining research on the Global Environment, Catastrophic Risks and Economic Theory and Policy. Modern economic theory originated in the middle of the twentieth century when industrial expansion coupled with population growth led to a voracious use of natural resources and global environmental concerns. It is uncontested that, for the first time in recorded history, humans dominate the planet, changing the planet's atmosphere, its bodies of water, and the complex web of species that makes life on earth. This radical change in circumstances led to rethinking of the foundations of human organization and, in particular, the industrial economy and the economic theory behind it. This book brings together new approaches on multiple levels: environmental sustainability requires rethinking in terms of economic theory and policy as well as the considerations of catastrophic risk and extremal events. Leading experts address questions of economic governance, risk management, policy decision making and distribution across time and space.

This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley's work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are intellectual biographies that contextualize and identify Foley's contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises. The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.