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Climate shock : the economic consequences of a hotter planet

Author: Gernot Wagner; Martin L Weitzman
Publisher: Princeton : Princeton University Press, [2015] ©2015
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
"If you had a 10 percent chance of having a fatal car accident, you'd take necessary precautions. If your finances had a 10 percent chance of suffering a severe loss, you'd reevaluate your assets. So if we know the world is warming and there's a 10 percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren't we doing more about climate change right now? We insure our lives  Read more...
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Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Gernot Wagner; Martin L Weitzman
ISBN: 9780691159478 0691159475 0691171327 9780691171326
OCLC Number: 890107122
Awards: Long-listed for Financial Times and McKinsey Business Book of the Year Award 2015
Description: xi, 250 pages ; 23 cm
Contents: Preface: Pop quiz --
911 --
411 --
Fat tails --
Willful blindness --
Bailing out the planet --
007 --
What you can do --
A different kind of optimism.
Responsibility: Gernot Wagner and Martin L. Weitzman.

Abstract:

"If you had a 10 percent chance of having a fatal car accident, you'd take necessary precautions. If your finances had a 10 percent chance of suffering a severe loss, you'd reevaluate your assets. So if we know the world is warming and there's a 10 percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren't we doing more about climate change right now? We insure our lives against an uncertain future--why not our planet? ... [the authors] explore in lively, clear terms the likely repercussions of a hotter planet, drawing on and expanding from work previously unavailable to general audiences. They show that the longer we wait to act, the more likely an extreme event will happen. A city might go underwater. A rogue nation might shoot particles into the Earth's atmosphere, geoengineering cooler temperatures. Zeroing in on the unknown extreme risks that may yet dwarf all else, the authors look at how economic forces that make sensible climate policies difficult to enact, make radical would-be fixes like geoengineering all the more probable. What we know about climate change is alarming enough. What we don't know about the extreme risks could be far more dangerous. Wagner and Weitzman help readers understand that we need to think about climate change in the same way that we think about insurance - as a risk management problem, only here, on a global scale"--Publisher's description.

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2016 Outstanding Book of the Year "Most Likely to Save the Planet," Independent Publisher Book Awards One of Financial Times (FT.com) Best Books in Economics 2015, chosen by Martin Wolf A Financial Read more...

 
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