Climate change: Need for new economic thought

Publication: Popular science articles (i.e. magazines)Popular science article


As climate change has moved onto the political agenda, so have
economists entered the debate prominently. Addressing the
greenhouse effect challenges the approach to resource allocation
of mainstream economics. A range of subjects arise: the objectivity
of scientific information, asymmetry of costs and benefits over space
and time, differentiation between risk and uncertainty, institutional
power over information and the role of ethical judgment in
decision processes.
Original languageEnglish
Specialist publicationEconomic and Political Weekly
Publication statusPublished - 10 Feb 2007

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