The 2018 Nobel laureate for economics analyzes the politics and economics of the central environmental issue of today and points the way to real solutions
Climate change is profoundly altering our world in ways that pose major risks to human societies and natural systems. We have entered the Climate Casino and are rolling the global-warming dice, warns economist William Nordhaus. But there is still time to turn around and walk back out of the casino, and in this essential book the author explains how.
Bringing together all the important issues surrounding the climate debate, Nordhaus describes the science, economics, and politics involved—and the steps necessary to reduce the perils of global warming. Using language accessible to any concerned citizen and taking care to present different points of view fairly, he discusses the problem from start to finish: from the beginning, where warming originates in our personal energy use, to the end, where societies employ regulations or taxes or subsidies to slow the emissions of gases responsible for climate change.
Nordhaus offers a new analysis of why earlier policies, such as the Kyoto Protocol, failed to slow carbon dioxide emissions, how new approaches can succeed, and which policy tools will most effectively reduce emissions. In short, he clarifies a defining problem of our times and lays out the next critical steps for slowing the trajectory of global warming.
"A one-stop source on global warming, seen through the prism of a brilliant economist."—Fred Andrews, New York Times
Selected as one of the best books of 2013 in the Financial Times
"Nordhaus is arguably the world’s leading thinker on the economics of global warming. . . . His conclusion is clear: Acting to stop climate change costs money. Ignoring the problem costs more. . . . Ultimately, this message, delivered by a number-crunching economist rather than a morally outraged environmentalist, may prove far more effective in making the case for action."—Coral Davenport, The New York Times Book Review
"When we have a disjunction between scientific consensus and popular perception—that should light a fire under those of us in the news media. An excellent basis for discussion is the new book The Climate Casino by William Nordhaus."—Nicholas Kristof, New York Times
"Provides a comprehensive stocktaking of the possibilities and consequences of global climate change, all of which can be summed up in one sentence: 'Global warming is a trillion-dollar problem requiring a trillion-dollar solution.'"—Sheridan Jobbins, World Economic Forum
"The power of intelligent economics permeates William Nordhaus’s The Climate Casino . . . the book convincingly makes the economic case for changing governmental policy, and our production and consumption habits, by offering economic incentives for low-carbon choices."—Gail Whiteman, Nature
William Nordhaus, winner of the 2018 Nobel Prize in Economics and Sterling Professor of Economics at Yale University, has studied and written extensively about global warming for four decades. He lives in New Haven, CT.