Natural Resources and the Environment by Mark Kanazawa

Author:Mark Kanazawa
Language: eng
Format: epub
Publisher: Routledge
Published: 2021-03-24T00:00:00+00:00

Key takeaways

Climate change is contributing to rising global temperatures, more frequent extreme climate events, warmer, more acidic oceans, and rising sea levels.

Economists typically use integrated assessment models in order to assess the costs of climate change. These IAMs combine climate models with models of the world economy.

An important element of the economist’s approach to valuing the costs of climate change is to allow for adaptive behavior, which tends to lower the cost estimates.

Different assumptions about the discount rate make a huge difference in estimates of the costs of climate change.

The impacts of climate change are more likely to be borne by lower-income countries.

The three basic strategies for dealing with climate change are mitigation, geoengineering, and adaptation.

Two mitigation strategies are carbon taxes and cap-and-trade.

International climate agreements are subject to the free-rider problem, transaction costs, and enforcement costs. Enforcement costs occur because of difficulties in effective monitoring and imposing sanctions.

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