The paper develops the Basic Climate Economic (BCE) model featuring the core elements of climate economics and climate policy. The BCE model incorporates fossil stock depletion, pollution stock accumulation, endogenous growth, and climate-induced capital depreciation. We first use graphical...

This book explores the interplay between science, economics, politics, and ethics in understanding the challenge that climate change poses to the international community. A central theme is that climate change involves core issues of scientific uncertainty and intergenerational fairness that...

Neoliberal economics has opposed or rolled back policy measures designed to protect the environment. Neoclassical economics recognises environmental degradation as a classic example of an externality and frames its response in terms of correcting that market failure, but the limitations of its...

This paper considers the challenges to the field of public economics that arise from the issue of global warming. It outlines the argument for viewing the global climate as a public good and describes the problems that emerge when one tries to apply the insights of public goods theory to global...