A Question of Balance: Weighing the Options on Global Warming Policies
By William D. Nordhaus
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 and 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 worlds most pressing problems but will provide the rationales and methods for achieving widespread agreement on our next best move in alleviating global warming.
"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."
"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."