Lec_08_Climate Change Mitigation and Policies_2-04-09

Lec_08_Climate Change Mitigation and Policies_2-04-09 -...

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Unformatted text preview: Climate Change: Mitigation and Policies To find out what we value, we first must determine what we’re willing to pay for. Pareto Optimality: Finding the optimal balance between costs and benefits It could cost trillions of dollars to try to fine tune the planet’s temperature. We cannot know if these trillions would purchase benefits commensurate with the benefits that would have come from social wealth that was not produced. George Will Inconvenient Kyoto Truths, Newsweek “The Parties should protect the climate system for the benefit of present and future generations of humankind, on the basis of equality and in accordance with their common but differentiated responsibilities and respective capabilities. Accordingly, the developed country Parties should take the lead in combating climate change and the adverse effects thereof.” UNFCCC To find out what we value, we first must determine what we’re willing to pay for. To find out what we’re willing to pay for, we must first determine what we value. Zealots say fighting global warming is a moral imperative, so cost-benefit analyses are immoral. George Will An Inconvenient Price Sums that are smaller relative to the cost of trying to fine tune the planet’s climate could prevent scores of millions of deaths from …. clear and present dangers.-George Will An Inconvenient Price, Newsweek – October 22nd, 2007...
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Lec_08_Climate Change Mitigation and Policies_2-04-09 -...

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