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Principles for the Future

In: Economic Models of Climate Change

Author

Listed:
  • Stephen J. DeCanio

    (University of California)

Abstract

The previous chapters have shown that by downplaying or ignoring the issues of distribution, multiple equilibria, and dynamics, the economic analysis of climate policy has missed (or mischaracterized) essential aspects of the problem. Most analysis has concentrated on matters of efficiency that are more suitable for small-scale environmental problems (such as where to locate a landfill or what to do about pollution of a river by an industrial plant) than for a global issue like climate change. By implicitly taking the existing definitions and distribution of property rights for granted, policy advice has been skewed towards the status quo. Some of the possibilities that are opened up by the creation of climate rights or alternative evolutionary paths for the economy have been ruled out arbitrarily, when they may actually offer the most hopeful potential routes to climate stabilization.

Suggested Citation

  • Stephen J. DeCanio, 2003. "Principles for the Future," Palgrave Macmillan Books, in: Economic Models of Climate Change, chapter 6, pages 153-160, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-50946-7_6
    DOI: 10.1057/9780230509467_6
    as

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