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The Nordhaus Racket: How to Use Capitalization to Minimize the Cost of Climate Change and Win a Nobel for ‘Sustainable Growth’

Author

Listed:
  • Bichler, Shimshon
  • Nitzan, Jonathan

Abstract

The LA Times called the bluff: William D. Nordhaus won the Nobel prize in economics for a climate model that minimized the cost of rising global temperatures and undermined the need for urgent action. Unfortunately, though, the article missed the nugget in the racket.

Suggested Citation

  • Bichler, Shimshon & Nitzan, Jonathan, 2018. "The Nordhaus Racket: How to Use Capitalization to Minimize the Cost of Climate Change and Win a Nobel for ‘Sustainable Growth’," EconStor Preprints 184690, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:184690
    as

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    File URL: https://www.econstor.eu/bitstream/10419/184690/1/20181103_bn_the_nordhaus_racket.pdf
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    References listed on IDEAS

    as
    1. Nitzan, Jonathan & Bichler, Shimshon, 2009. "Capital as Power. A Study of Order and Creorder," EconStor Books, ZBW - Leibniz Information Centre for Economics, number 157973.
    2. Stern,Nicholas, 2007. "The Economics of Climate Change," Cambridge Books, Cambridge University Press, number 9780521700801.
    3. William D. Nordhaus, 2007. "A Review of the Stern Review on the Economics of Climate Change," Journal of Economic Literature, American Economic Association, vol. 45(3), pages 686-702, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    capitalization; climate change; discounting;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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