Global Climate Change: The Economic Costs of Mitigation and by William C. Clark (auth.), James C. White PhD, William

By William C. Clark (auth.), James C. White PhD, William Wagner, Carole N. Beal (eds.)

Bacteria in a try tube and people on our planet keep on with an identical inhabitants curve as time elapses. We in this earth, principally via keep watch over of disorder, are speedily ap­ proaching greatest inhabitants, and during power calls for are utilizing up our resour­ ces and amassing wastes. we've come to gain the risk of a maturing procedure yet have made crucial­ ly no impression in mitigating or combating the issues we are facing. whereas we have now been capable of swap the realm we are living in, so much of our results were to degrade the planet. we've nibbled away on the caliber of the ambience for hundreds of years and the ac­ cumulated harm has led to altering the world's weather at an ever-increasing expense. We now face the potential of greater regular temperatures over such a lot of our planet, altering styles of rainfall, emerging sea degrees, irritated typhoon structures and a myriad of social effects.

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There is nothing that belongs to man alone by virtue of which humans can claim to be the only entities to whom morality applies. 24 40 Brown Some moral concern would seem to apply to all animals and, at least indirectly, to plants upon which animals depend. To the extent that rapid climate change is likely to undermine the stability and diversity of ecological systems, this framework imposes a strong duty on us to stabilize climate. "Stabilize climate" can be dermed in this context as: that rate of change at which climate change is not a factor in the extinction of species.

The Political Economy of the Rent-Seeking Society," American Economic Review, 64, 3 (June), pp. 291-303. D. (1977). "Economic Growth and Climate: The Carbon Dioxide Problem,"American Economic Review, 67,1 (February), pp. 341-346. Nordhaus, W. D. (1990). "Economic Approaches to Greenhouse Warming," paper prepared for a conference on Economic Policy Response to Global Wanning, 4-6 October, Rome. E. (1990). Reflections on an "Optimal Treaty"for the Global Commons Involving Industrialized and Developing Nations, mimeo.

Examples include pollution taxes (at some cost to economic growth) which have a positive return because they will reduce the local health costs of air pollution (note that the health benefits of reduced pollution would be calculated based on the local, not the global, demand for health), and policies to reduce deforestation which imply some cost in foregone income but an overall positive return due to watershed protection. As is the case with type 1 policies, there is no obvious room for trade via "purchases" of services, nor a rationale for transfers from developed to developing countries specifi- Some Economics of Global Climate Change: The View from the Developing Countries 23 cally tied to reduced emissions of greenhouse gases under a negotiated treaty arrangement.

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