I discuss three families of methodologies that could be used to assign values to the normative parameters relevant to social discounting in welfare economics generally, and climate economics more specifically. First, I argue that in particular circumstances, there cannot be philosophical argumentation for normative questions; specifically, this occurs when the particular values being sought are both non-critical and from a quantitative range. Second, I argue that social preferences are insufficient if we take the problem to be normative (...) and that proposals for informed social preferences face significant challenges in implementation. Finally, I argue in favour of expert elicitation for experts in welfare economics, construed as those who understand the theoretical implications of adopting particular judgments. Those who understand the theoretical implications of adopting particular judgments will be better placed to develop coherent social plans while integrating relevant empirical data. (shrink)

This book was born out of two interdisciplinary seminars held in 2014. The first one was the Climate Ethics and Climate Economics workshop in April adjoined as part of the European Consortium for Political Research Joint Sessions 2014 in Salamanca. Spurred on by the invigorating discussions, the participants decided to put together more workshops, with Ethical Underpinnings of Climate Economics following in Helsinki in November that same year. Without the organisers of these workshops the collaborators (...) of this book would not have come together: Matthew Rendall, Dominic Roser, Sade Hormio, Simo Kyllonen, Aaron Maltais and Joanna Burch-Brown. We would also like to thank all the participants at the workshops for making them so enjoyable and worthwhile. The Helsinki workshop that this book was named after was organized as part of the Climate Ethics and Economics project, led by Aki Lehtinen and funded by the University of Helsinki. The three-year project is based at the Social and Moral Philosophy discipline in the Department of Political and Economic Studies. The workshop itself was made possible by funding from the Academy of Finland Centre of Excellence in the Philosophy of the Social Sciences, which also helped to host the event. (shrink)

This paper discusses ethical issues surrounding Integrated Assessment Models (IAMs) of the economic effects of climate change, and how climate economists acting as policy advisors ought to represent the uncertain possibility of catastrophe. Some climate economists, especially Martin Weitzman, have argued for a precautionary approach where avoiding catastrophe should structure climate economists’ welfare analysis. This paper details ethical arguments that justify this approach, showing how Weitzman’s “fat tail” probabilities of climate catastrophe pose ethical problems for (...) widely used IAMs. The main claim is that economists who ignore or downplay catastrophic risks in their representations of uncertainty likely fall afoul of ethical constraints on scientists acting as policy advisors. Such scientists have duties to honestly articulate uncertainties and manage (some) inductive risks, or the risks of being wrong in different ways. (shrink)

Cross-cultural personality research suggests that individuals from wealthier countries tend to be more open-minded. This openness to values may support more democratic governments and the expansion of fundamental freedoms. The link between wealth and freedom is evident in cold-to-temperate climates, but not across wealthy nations in hot climates. Furthermore, temperature and economic conditions shape perceptions of national character stereotypes.

How much should the present generations sacrifice to reduce emissions today, in order to reduce the future harms of climate change? Within climate economics, debate on this question has been focused on so-called “ethical parameters” of social time preference and inequality aversion. We show that optimal climate policy similarly importantly depends on the future of the developing world. In particular, although global poverty is falling and the economic lives of the poor are improving worldwide, leading models (...) of climate economics may be too optimistic about two central predictions: future population growth in poor countries, and future convergence in total factor productivity (TFP). We report results of small modifications to a standard model: under plausible scenarios for high future population growth (especially in sub-Saharan Africa) and for low future TFP convergence, we find that optimal near-term carbon taxes could be substantially larger. (shrink)

Economics takes an individualistic approach to human behaviour. This is reflected in the use of 'contingent valuation' surveys to conduct cost benefit analysis for economic policy evaluation. An individual's valuation of a policy is assumed to be unaffected by the burdens it places on others. We report a survey experiment to test this supposition in the context of climate change policy. Willingness to pay for climate change mitigation was higher when richer individuals were to bear higher costs (...) than when, as is usual, no explicit information was provided about cost distribution. This result is inconsistent with the usual interpretation of contingent valuation data. It also suggests that the data may be biased indicators of policy acceptance. Additional survey questions suggest that a collective mode of reasoning is common. (shrink)

Designing policy for climate change requires analyses which integrate the interrelationship between the economy and the environment. We argue that, despite their dominance in the economics literature and influence in public discussion and policymaking, the methodology employed by Integrated Assessment Models (IAMs) rests on flawed foundations, which become particularly relevant in relation to the realities of the immense risks and challenges of climate change, and the radical changes in our economies that a sound and effective response require. (...) We identify a set of critical methodological problems with the IAMs which limit their usefulness and discuss the analytic foundations of an alternative approach that is more capable of providing insights into how best to manage the transition to net-zero emissions. (shrink)

Merck suppressed data on harmful effects of its drug Vioxx, and Guidant suppressed data on electrical flaws in one of its heart-defibrillator models. Both cases reveal how financial conflicts of interest can skew biomedical research. Such conflicts also occur in electric-utility-related research. Attempting to show that increased atomic energy can help address climate change, some industry advocates claim nuclear power is an inexpensive way to generate low-carbon electricity. Surveying 30 recent nuclear analyses, this paper shows that industry-funded studies appear (...) to fall into conflicts of interest and to illegitimately trim cost data in several main ways. They exclude costs of full-liability insurance, underestimate interest rates and construction times by using overnight costs, and overestimate load factors and reactor lifetimes. If these trimmed costs are included, nuclear-generated electricity can be shown roughly 6 times more expensive than most studies claim. After answering four objections, the paper concludes that, although there may be reasons to use reactors to address climate change, economics does not appear to be one of them. (shrink)

While federal action on climate change is stalled, regional organizing strategies are proving effective. Leveraging regional economic opportunities available through climate protection offers high odds to gain support from constituencies that have raised economic objections to global warming abatement. An emerging clean energy technology revolution offers opportunities to turn them into allies. The clean energy revolution is a branch of the high tech potentially attractive to investors. Clean energy generation and end-use efficiency represent a $3.5 trillion market over (...) the coming 20 years, even with no new public priority. Clean energy production entails use of a wider landscape than fossil fuels, offering rural development opportunities. Climate Solutions, an advocacy group, has jointly issued a clean energy market and policy analysis with major Northwest utilities and economic development agencies. Climate Solutions is also organizing Northwest rural constituencies to take full advantage of the clean energy revolution. (shrink)

Climate justice requires sharing the burdens and benefits of climate change and its resolution equitably and fairly. This book brings together economic and philosophical discourse on climate justice in order to support public policy dialogue on the topic.

In this paper, we study the relationship between Economic Policy Uncertainty (EPU) and carbon dioxide (CO 2 ) emissions. Using an extensive dataset from 23 countries consisting of 6800 firm-year observations, we provide strong evidence that EPU increases firms’ CO 2 emissions. Our main inference is robust when using alternative measures of CO 2 emissions and EPU, alternative econometric specifications and samples, and several approaches to control for possible endogeneity. In a set of additional analyses, we first show that a (...) board’s characteristics (i.e., board gender diversity and board independence) significantly moderate the studied relationship. Second, cross-country characteristics (i.e., government effectiveness, control of corruption, and democracy) seem important in the relationship between EPU and CO 2 emissions. Our findings significantly contribute to the debate on firms’ ethical responsibility in managing climate change and CO 2 emissions. (shrink)

Economics has played an important role in assessing climate change impacts, and the effects of various individual and policy response strategies. Proponents of a key role for economics in analysis of climate change policies and goals argue that its capacity to incorporate and compare a variety of costs and benefits makes it uniquely useful for normative assessment. Critics of economic analysis of climate change have questioned not only its empirical capacities, but also its fundamental usefulness (...) given some of the important but often implicit assumptions on which it is based. After reviewing this debate and its implications for public policy on climate change, the paper sketches a way in which more technical economic analysis and public dialogue might be combined. (shrink)

Recent discoveries have revealed that there is intellectual bias in the field of climate science; the present paper makes the case that this moral and intellectual rot has also affected the field of economics.

This paper examines a broad range of ethical perspectives and principles relevant to the analysis of issues raised by the science of climate change and explores their implications. A second and companion paper extends this analysis to the contribution of ethics, economics and politics in understanding policy towards climate change. These tasks must start with the science which tells us that this is a problem of risk management on an immense scale. Risks on this scale take us (...) far outside the familiar policy questions and standard, largely marginal, techniques commonly used by economists; this is a subject that requires the full breadth and depth of what economics has to offer and a much more thoughtful view of ethics than economists usually bring to bear. Different philosophical approaches bring different perspectives on understanding and policy, yet they generally point to the case for strong action to manage climate change. (shrink)

Deciding which climate policies to enact, and where and when to enact them, requires weighing their costs against the expected benefits. A key challenge in climate policy is how to value health impacts, which are likely to be large and varied, considering that they will accrue over long time horizons (centuries), will occur throughout the world, and will be distributed unevenly within countries depending in part on socioeconomic status. These features raise a number of important economic and ethical (...) issues including how to value human life in different countries at different levels of development, how to value future people, and how much priority to give the poor and disadvantaged. In this article we review each of these issues, describe different approaches for addressing them in quantitative climate policy analysis, and show how their treatment can dramatically change what should be done about climate change. Finally, we use the social cost of carbon, which reflects the cost of adding carbon emissions to the atmosphere, as an example of how analysis of climate impacts is sensitive to ethical assumptions. We consider $20 a reasonable lower bound for the social cost of carbon, but we show that a much higher value is warranted given a strong concern for equity within and across generations. (shrink)

Both intertemporal and intratemporal equity are central to the examination of policy towards climate change. However, many discussions of intertemporal issues have been marred by serious analytical errors, particularly in applying standard approaches to discounting; the errors arise, in part, from paying insufficient attention to the magnitude of potential damages, and in part from overlooking problems with market information. Some of the philosophical concepts and principles of Paper 1 are applied to the analytics and ethics of pure-time discounting and (...) infinite-horizon models, providing helpful insights into orderings of welfare streams and obligations towards future generations. Such principles give little support for the idea of discrimination by date of birth. Intratemporal issues are central to problematic and slow-moving international discussions and are the second focus of this paper. A way forward is to cast the policy issues and analyses in a way that keeps equity issues central and embeds them in the challenge of fostering the dynamic transition to the low-carbon economy in both developed and developing countries. This avoids the trap of seeing issues primarily in terms of burden-sharing and zero-sum games – that leads to inaction and the most inequitable outcome of all. (shrink)

Economic analysis presents climate change as a collective action problem, a market failure, or a problem about the allocation or distribution of property rights. Mark Sagoff argues that it is none of these. Economic theory cannot provide a useful way—either a model, method, or metaphor—to think about climate change. The reasons to reduce greenhouse gases are not economic, but ethical.

The food-energy-climate change trilemma refers to the stark alternatives presented by the need to feed a world population growing to nine billion, the attendant risks of land conversion and use for global climate change, and the way these are interconnected with the energy crisis arising from the depletion of oil. Theorizing the interactions between political economies and their related natural environments, in terms of both finitudes of resources and generation of greenhouse gases, presents a major challenge to social (...) sciences. Approaches from classical political economy, transition theory, economic geography, and political ecology, are reviewed before elaborating the neo-Polanyian approach adopted here. The case of Brazil, analysed with an `instituted economic process’ framework, demonstrates how the trilemma is a spatial and historical socio-economic phenomenon, varying significantly in its dynamics in different environmental and resource contexts. The paper concludes by highlighting challenges to developing a social scientific theory in this field. (shrink)

A number of recent discussions about ethical issues in climate change, as engaged in by economists, have focused on the value of the parameter representing the rate of time preference within models of optimal growth. This essay examines many economists' antipathy to serious discussion of ethical matters, and suggests that the avoidance of questions of intergenerational equity is related to another set of value judgments concerning the quality and objectivity of economic practice. Using insights from feminist philosophy of science (...) and research on high reliability organizations, this essay argues that a more ethically transparent, real-world-oriented, and flexible economic practice would lead to more strongly objective, reliable, and useful knowledge. (shrink)

The first part of this paper provides a general theory of moral climates, which incorporates the following three elements: first, the values and limitations of that picture of moral behaviour focused on rules, rule-following and rationality; second, that picture of moral behaviour focused on institutionally-embedded activity; and third, that picture of moral behaviour that urges us to come face to face with our own limitations, i.e., our own ways of orienting ourselves to objects of value, such that we do not (...) neglect the vigilance required in order to see and recognise the great variety and depth of suffering and vulnerability. The moral climate of any particular social environment can be evaluated from the perspective of these three elements. The second part of the paper applies this general theory of moral climates to that of international economic institutions. It is argued that, despite their importance, both human rights discourse and institutional features designed to increase participation from developing countries in decision- and policy-making, are of limited use, partly because of their inherent limitations, and partly because of the emergence of international economic institutions in the context of an already heavily de-politicised and autonomous economic sphere. The necessary transformation of international economic institutions ought not to neglect the continuing domination of the orientation of those institutions towards the value of efficiency, to which all other values tend to be made subordinate. The paper proposes not only vigilance about the limitations of current and proposed normative languages and institutional features, but also urges the consideration of a Community Forum scheme, which is designed to bring to light and thereafter communicate, via the participation of international experts and artists, some of the particularities of suffering and vulnerability within specific communities. Finally, the paper illustrates the need for greater awareness of the particularities of suffering and vulnerability by considering the continuing problem of access to public goods and services amongst the poor in Nigeria. (shrink)

This paper examines the nexus between climate change and trade governance from a normative perspective. Only little research attention has been paid to assessing the interactions between empirical and normative approaches to climate change in the context of potential trade measures. To this end, the paper focuses on currently discussed border carbon adjustment measures. The paper assesses these trade measures from a normative perspective: it explores whether they are compatible or in conflict with development ethics on the one (...) hand and with climate ethics on the other. The paper finds that border adjustment measures are both a potential threat to development, as well as to a workable climate agreement. It argues that they are therefore both in conflict with development as well as climate ethics concerns. From a development ethics perspective, border adjustment measures are objectionable for two reasons. First, they hurt developing countries and above all the ones that are vulnerable in terms of relying only on few export goods. Second, border adjustment measures restrict market access for developing countries and thereby undermine the potential of trade to foster development. From a climate ethics perspective, border adjustment measures are objectionable for three reasons. First, border adjustment measures amount to unilaterally changing whatever global burden-sharing deal has been agreed to—thereby undermining procedural justice. Second, border adjustment measures disregard the consumption-dimension: it might be questioned whether it is fair to focus exclusively on making producers pay for emissions rather than also holding those responsible that import and consume the goods that incorporate these emissions. Third, even if border adjustment measures and countries with low emissions are exempted from border adjustment measures, they still burden countries that bear no historic responsibility for current high levels of greenhouse gases in the atmosphere, thereby undermining distributive justice by being in conflict with the polluter pays principle. (shrink)

Esteemed philosopher John Broome avoids the familiar ideological stances on climate change policy and examines the issue through an invigorating new lens. As he considers the moral dimensions of climate change, he reasons clearly through what universal standards of goodness and justice require of us, both as citizens and as governments. His conclusions—some as demanding as they are logical—will challenge and enlighten. Eco-conscious readers may be surprised to hear they have a duty to offset all their carbon emissions, (...) while policy makers will grapple with Broome’s analysis of what if anything is owed to future generations. From the science of greenhouse gases to the intricate logic of cap and trade, Broome reveals how the principles that underlie everyday decision making also provide simple and effective ideas for confronting climate change. Climate Matters is an essential contribution to one of the paramount issues of our time. (shrink)

Climate change mitigation has become a paradigm case both for externalities in general and for the game-theoretic model of the Tragedy of the Commons (ToC) in particular. This situation is worrying, as we have reasons to suspect that some models in the social sciences are apt to be performative to the extent that they can become self-fulfilling prophecies. Framing climate change mitigation as a hardly solvable coordination problem may force us into a worse situation, by changing real-world behaviour (...) to fit our model, rather than the other way around. But while this problem of the performativity of the ToC has been noted in a recent paper in this journal by Matthew Kopec, his proposed strategies for dealing with their self-fulfilling nature fall short of providing an adequate solution. Instead of relying on the idea that modelling assumptions are always strictly speaking false, this paper shows that the problem may be better framed as a problem of underdetermination between competing explanations. Our goal here is to provide a framework for choosing between this set of competing models that allows us to avoid a ‘Russian Roulette’-like situation in which we gamble with existential risk. (shrink)

Climate change policy decisions are inescapably intertwined with future generations. Even if all carbon dioxide emissions were to be stopped today, most aspects of climate change would persist for hundreds of years, thus inevitably raising questions of intergenerational justice and sustainability. -/- The chapter begins with a short overview of discount rate debate in climate economics, followed by the observation that discounting implicitly makes the assumption that natural capital is always substitutable with man-made capital. The chapter (...) explains why non-substitutability matters if we are to take intergenerational justice seriously and invest aptly in mitigation. Non-substitutability simply implies that there are some forms of capital that cannot be substituted by another, and so consumption of one cannot be compensated with additional stocks of the other. The non-substitutability of critical natural capital can be defended without empirical data about preferences or the need to view the environment as a superior good, and the argument is presented through the language of keeping options open. -/- Those alive today make decisions about what natural capital to use and what to save for future. These choices are often represented as different points in a continuum of sustainability: weak sustainability is associated with a high degree of substitutability and therefore a lot of flexibility over what capital to consume, whereas strong sustainability is more stringent on substitutability. While it may be that in economical understanding weak and strong sustainability collapse into one another, philosophically the emphasis is slightly different. The chapter discusses how normative sustainability can be supported without ignoring opportunity costs and trade-offs. (shrink)

Responding to the climate crisis requires social and economic innovation—because climate change is a symptom of patriarchal capitalist systems that are concentrating—rather than distributing—wealth and power. Despite the need for social and economic innovation, technological innovation continues to be prioritized in climate policy and climate investments. This paper reviews the dangers of technological optimism in climate policy by exploring its links to patriarchal systems and masculinity. The disproportionate focus on science and technology emerges from and (...) reinforces “climate isolationism,” a term that I use to refer to the common framing of climate change as an isolated discrete, scientific problem in need of technological solutions. This framing stems from assumptions of patriarchal white-male conceptions of privilege and power that evolve from a colonizing and controlling mindset. Masculine technological optimism is dangerous because it is exclusive, it minimizes the need for social change and social innovation, and it is ineffective in catalyzing inclusive societal transformation. This paper argues that embracing feminist, antiracist values is necessary for transformative climate policies, economic justice, and climate justice. (shrink)

Climate change presents us with a problem of intergenerational justice. While any costs associated with climate change mitigation measures will have to be borne by the world’s present generation, the main beneficiaries of mitigation measures will be future generations. This raises the question to what extent present generations have a responsibility to shoulder these costs. One influential approach for addressing this question is to appeal to neo-classical economic cost–benefit analyses and so-called economy-climate “integrated assessment models” to determine (...) what course of action a principle of intergenerational welfare maximization would require of us. I critically examine a range of problems for this approach. First, integrated assessment models face a problem of underdetermination and induction: They are very sensitive to a number of highly conjectural assumptions about economic responses to a temperature and climate regime, for which we have no empirical evidence. Second, they involve several simplifying assumptions which cannot be justified empirically. And third, some of the assumptions underlying the construction of economic models are intrinsically normative assumptions that reflect value judgments of the modeler. I conclude that, while integrated assessment models may play a useful role as “toy models,” their use as tools for policy optimization is highly problematic. (shrink)

While economic and other social science expertise is indispensable for successful public policy-making regarding global climate change, social scientists face trade-offs between the scientific credibility, policy-relevance, and legitimacy of their policy advice. From a philosophical perspective, this book systematically addresses these trade-offs and other crucial challenges facing the integrated economic assessments of the Intergovernmental Panel on Climate Change. Based on John Dewey’s pragmatist philosophy and an analysis of the value-laden nature and reliability of climate change economics, (...) the book develops a refined science-policy model and specific guidelines for these assessments of climate policy options. The core idea is to scientifically explore the various practical implications of alternative climate policy pathways in an interdisciplinary manner, together with diverse stakeholders. This could facilitate an iterative, deliberative public learning process concerning disputed policy issues. This volume makes novel contributions to three strands of the literature: the philosophy of science in policy; the philosophy of economics; and debates about the design of scientific assessments, including the continuous IPCC reform debate. This work is thus interesting for philosophers and other scholars reflecting on the science-policy interface, but also for assessment practitioners, climate policy-makers, and economists. The science-policy approach developed in this volume has already influenced the recent socio-economic IPCC assessment. (shrink)

While the foundations of climate science and ethics are well established, fine-grained climate predictions, as well as policy-decisions, are beset with uncertainties. This chapter maps climate uncertainties and classifies them as to their ground, extent and location. A typology of uncertainty is presented, centered along the axes of scientific and moral uncertainty. This typology is illustrated with paradigmatic examples of uncertainty in climate science, climate ethics and climate economics. Subsequently, the chapter discusses the (...) IPCC’s preferred way of representing uncertainties and evaluates its strengths and weaknesses from a risk management perspective. Three general strategies for decision-makers to cope with climate uncertainty are outlined, the usefulness of which largely depends on whether or not decision-makers find themselves in a context of deep uncertainty. The chapter concludes by offering two recommendations to ease the work of policymakers, faced with the various uncertainties engrained in climate discourse. (shrink)

Climate change and justice are so closely associated that many people take it for granted that a global climate treaty should--indeed, must--directly address both issues together. But, in fact, this would be a serious mistake, one that, by dooming effective international limits on greenhouse gases, would actually make the world's poor and developing nations far worse off. This is the provocative and original argument of Climate Change Justice. Eric Posner and David Weisbach strongly favor both a (...) class='Hi'>climate change agreement and efforts to improve economic justice. But they make a powerful case that the best--and possibly only--way to get an effective climate treaty is to exclude measures designed to redistribute wealth or address historical wrongs against underdeveloped countries. In clear language, Climate Change Justice proposes four basic principles for designing the only kind of climate treaty that will work--a forward-looking agreement that requires every country to make greenhouse--gas reductions but still makes every country better off in its own view. This kind of treaty has the best chance of actually controlling climate change and improving the welfare of people around the world. (shrink)

Anthropogenic climate change is a global process affecting the lives and well-being of millions of people now and countless number of people in the future. For humans, the consequences may include significant threats to food security globally and regionally, increased risks of from food-borne and water-borne as well as vector-borne diseases, increased displacement of people due migrations, increased risks of violent conflicts, slowed economic growth and poverty eradication, and the creation of new poverty traps. Principles of justice are statements (...) of what persons are owed either by others or by institutions and policies. Climate change gives rise to many concern of justice. This article briefly summarizes some of the most important of these, including claims to have climate change mitigated, claims regarding the sharing of the costs of climate change mitigation, claims for investment into adaptation, and claims to be compensated. (shrink)

Climate change is projected to have very severe impacts on future generations. Given this, any adequate response to it has to consider the nature of our obligations to future generations. This paper seeks to do that and to relate this to the way that inter-generational justice is often framed by economic analyses of climate change. To do this the paper considers three kinds of considerations that, it has been argued, should guide the kinds of actions that one generation (...) should take if it is to treat both current and future people equitably. In particular it examines the case for what has been termed pure time discounting, growth discounting and opportunity cost discounting; and it assesses their implications for climate policy. It argues that none of these support the claims of those who think they give us reason to delay aggressive mitigation policies. It also finds, however, that the second kind of argument can, in certain circumstances, provide support for passing on some of the costs of mitigation to future generations. (shrink)

Understanding climate change is becoming an urgent requirement for those in education. The normative values of education have long been closely aligned with the global, modernised world. The industrial model has underpinned the hidden and overt curriculum. Increasingly though, a new eco-centric orientation to economics, technology, and social organisation is beginning to shape up the post-carbon world. Unless education is up to date with the issues of climate change, the estate of education will be unable to meet (...) its task of knowledge transfer. This paper covers the basic science and ethical policy debates, and begins to outline the questions that will necessarily entangle education as we orientate ourselves to the new world that is upon us. (shrink)

Climate change is a product of the entire social and economic system within which we exist, in a word, capitalism.

The importance of addressing the existential threat to humanity, climate change, has grown remarkedly in recent years while conflicting views and interests in societies exist. Therefore, climate change agendas have been weaponized to varying degrees, ranging from the international level between countries to the domestic level among political parties. In such contexts, climate change agendas are predominantly driven by political or economic ambitions, sometimes unconnected to concerns for environmental sustainability. Consequently, it can result in an environment that (...) fosters antagonism and disputes over power and position and increases the risk of prolonged confrontations, hindering the collective global efforts to mitigate and adapt to climate change. Through the current discourse, we aim to provide a preliminary definition of the weaponization of climate change and environmental degradation and examine its risks and consequences on international relations, political dynamics, public perception, and the comprehensive integrity of climate action. We also recommend embracing a globally coordinated, scientifically substantiated approach to circumvent climate change by building an eco-surplus cultural value system. (shrink)

Universal Basic Income (UBI) can serve as a beneficial public policy to reduce poverty and inequality, yet a great challenge is how to fund it. This article offers a roadmap for fully funding UBI in a manner that: eliminates poverty; bolsters the middle-class; eliminates the stigma and government bureaucracy of social welfare programs; reduces ever-expanding inequality; initiates a path to meeting climate change goals; reduces speculation; and increases fairness and opportunity in the tax code. As stand-alone policies, these revenue (...) proposals are valuable correctives in their own right. If the entire package of UBI and funding sources were in effect, society (and American capitalism) would be on a more stable, equitable, and environmentally sustainable footing. (shrink)

[Blog Post] This blog post (1) introduces a fundamental debate in climate ethics (polluter pays v beneficiary pays v ability to pay principles) while (2) arguing for a new principle (polluter pays, then receives, or PPTR/"Peter", principle).

ABSTRACT In Debating Climate Ethics, David Weisbach and I offer contrasting views of the importance of ethics and justice for climate policy. I argue that ethics is central. Weisbach advocates for climate policy based purely on narrow forms of self-interest. For this symposium, I summarize the major themes, and extend my basic argument. I claim that ethics gets the problem right, whereas dismissing ethics risks getting the problem dangerously wrong, and perpetuating profound injustices. One consequence is that (...) we should reject the alleged “feasibility constraint” of short-term, economic self-interest. (shrink)

Analyzing the transformation of climate activism in a rapidly changing political landscape, this book traces everyday renewable energy actions within a growing 'epistemic community', dispersed across organizational boundaries and domains. It will be of interest to social science scholars of business, renewable energy and sustainability transitions.

The term “climate emergency” was employed in the 2008 book Climate Code Red as both a problem statement and a solutions strategy. The core propositions – that the biophysical circumstances were worse than generally understood, that the 2°C goal was dangerously high, and that the time for incremental change had expired – are re-examined in light of events over the last decade and the growing existential risk. The failure to recognise and respond to the climate emergency, and (...) the incapacity of markets to do so, means that widespread social, economic, and physical disruption is now inevitable. An emergency mode of response, characterised by decisive state leadership and market intervention which challenges the dominant economic paradigm, is now necessary to protect contemporary civilisation. (shrink)

It is evident that the problem of global climate change is closely bound up with questions of distributional justice, both intra- and intergenerational. Questions of justice are raised by two kinds of burdens: reductions in the emission of greenhouse gases, and the financial and knowledge transfers necessary to enable the poorest countries to compensate the harms suffered by the ongoing process. Both burdens involve considerable costs and opportunity costs. On the backdrop of a prioritarian version of utilitarianism, it is (...) argued that the answer should be a split strategy. While reduction of emissions should be based on the polluter-pays principle, obligations of compensation should be based on the criteria of overall economic strength. (shrink)