The Ethics of Efficient Markets and Commons Tragedies: A Review of John Broome's Climate Matters: Ethics in a Warming World

William Nordhaus

Journal of Economic Literature, 2014, vol. 52, issue 4, 1135-41

Abstract: What are the ethical implications of our contributions to global warming on an individual level? In his extended essay, John Broome analyzes the moral implications of our imposing damages on future generations through our greenhouse-gas emissions. He argues that we as individuals owe restitution to those who are in the future damaged by these unjust acts. He suggests that restitution can be accomplished by completely offsetting emissions and thereby having a zero carbon footprint. This review examines the force of his arguments and suggests that off-setting emissions on an individual basis is an imperfect substitute for collective action or more encompassing contributions to those hurt by our externalities. (JEL D63, Q21, Q54, Q58)

JEL-codes: D63 Q21 Q54 Q58 (search for similar items in EconPapers)
Date: 2014
Note: DOI: 10.1257/jel.52.4.1135
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