Principles for the Future

Stephen DeCanio ()

Chapter 6 in Economic Models of Climate Change, 2003, pp 153-160 from Palgrave Macmillan

Abstract: Abstract The previous chapters have shown that by downplaying or ignoring the issues of distribution, multiple equilibria, and dynamics, the economic analysis of climate policy has missed (or mischaracterized) essential aspects of the problem. Most analysis has concentrated on matters of efficiency that are more suitable for small-scale environmental problems (such as where to locate a landfill or what to do about pollution of a river by an industrial plant) than for a global issue like climate change. By implicitly taking the existing definitions and distribution of property rights for granted, policy advice has been skewed towards the status quo. Some of the possibilities that are opened up by the creation of climate rights or alternative evolutionary paths for the economy have been ruled out arbitrarily, when they may actually offer the most hopeful potential routes to climate stabilization.

Keywords: Carbon Emission; Emission Reduction; Climate Policy; Climate Protection; General Equilibrium Theory (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50946-7_6

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DOI: 10.1057/9780230509467_6

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