Synopses & Reviews
As scientific and observational evidence on global warming piles up every day, questions of economic policy in this central environmental topic have taken center stage. But as author and prominent Yale economist William Nordhaus observes, the issues involved in understanding global warming andand#160;slowing its harmful effects are complex and cross disciplinary boundaries. For example, ecologists see global warming as a threat to ecosystems, utilities as a debit to their balance sheets, and farmers as a hazard to their livelihoods.
In this important work, William Nordhaus integrates the entire spectrum of economic and scientific research to weigh the costs of reducing emissions against the benefits of reducing the long-run damages from global warming. The book offers one of the most extensive analyses of the economic and environmental dynamics of greenhouse-gas emissions and climate change and provides the tools to evaluate alternative approaches to slowing global warming. The author emphasizes the need to establish effective mechanisms, such as carbon taxes, to harness markets and harmonize the efforts of different countries. This book not only will shape discussion of one the worldand#8217;s most pressing problems but will provide the rationales and methods for achieving widespread agreement on our next best move in alleviating global warming.
and#8220;William Nordhaus has, with the publication of A Question of Balance
, once again reestablished the gold standard for economic analysis of climate policy in an uncertain world where scientific understanding changes unexpectedly.and#8221;and#8212;Gary Yohe, Woodhouse/Sysco Professor of Economics at Wesleyan University
"This book provides a forceful, insightful, and timely overview of climate change policy. Professor Nordhaus adroitly unravels the mysteries of global warming and lays bare the options before us."andshy;and#8212;John P. Weyant, Professor of Management Science and Engineering, Stanford University
and#8220;Nordhaus's careful modeling of the world climate and the world economy is a cool breeze of common sense in an arena of discourse often dominated by torrents of hot air.and#8221;and#8212;Dale Jorgenson, Samuel W. Morris University Professor of Economics, Harvard University
and#8220;Professor Nordhaus pioneered the integrated analysis of climate change, combining climatic and economic modeling.andnbsp; His . . . book shows that his work remains the standard of analysis by which the field may be judged.andnbsp;[The] exposition is very clear and thorough, showing all the relevant issues so that those who may disagree can pinpoint exactly the points at issue.and#8221;and#8212;Kenneth J. Arrow, StanfordUniversity, Nobel Laureate in Economics
Selected by Choice magazine as an Outstanding Academic Title of 2008. Outstanding Academic Title
“Understanding global warming and taking action to slow its impacts is a major challenge. This book provides an insight into climate change policy and its effects.”—Materials World Choice
andldquo;If you are skeptical of Lomborg and his branch of environmental skepticism, read . . . A Question of Balance
.andrdquo;andmdash;Michael Shermer, Huffington Post
About the Author
William D. Nordhaus is Sterling Professor of Economics at Yale University, New Haven, Connecticut, USA. He completed his undergraduate work at Yale University and received his Ph.D. in Economics in 1967 from the Massachusetts Institute of Technology, Cambridge, USA. He has been on the faculty of Yale University since 1967 and has been Full Professor of Economics since 1973. Professor Nordhaus lives in downtown New Haven with his wife Barbara, who works at the Yale Child Study Center. He is a member of the National Academy of Sciences and a Fellow of the American Academy of Arts and Sciences. He is on the research staff of the Cowles Foundation and of the National Bureau of Economic Research and has been a member and senior advisor of the Brookings Panel on Economic Activity, Washington, D.C. since 1972. Professor Nordhaus is current or past editor of several scientific journals and has served on the Executive Committees of the American Economic Association and the Eastern Economic Association. He serves on the Congressional Budget Office Panel of Economic Experts and was the first Chairman of the Advisory Committee for the Bureau of Economic Analysis.