Spirit of Green

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From a Nobel Prize-winning pioneer in environmental economics comes an innovative account of how "green thinking" could address many of the world's pressing issues, including global warming and pandemics. Tackling major challenges such as climate change, wildfires, and corporate malfeasance requires new methods for managing the interactions that shape our world. This involves ensuring that those responsible for carbon emissions and environmental damage bear the full costs rather than passing them onto others, including future generations. The author presents a fresh perspective on green thinking that enables us to confront these challenges without sacrificing economic growth, largely by accounting for the spillover costs of economic activities. The discussion spans the history of the environmental movement and the Green New Deal, illustrating how this approach offers hope for modern life. Central to green thinking is the understanding that our globalized world is influenced by countless interactions rather than isolated actions. By rethinking economic efficiency, sustainability, and corporate responsibility, we can enhance societal effectiveness and equity. The author provides specific solutions for pricing carbon, developing low-carbon technologies, designing efficient tax systems, and fostering international cooperation through climate clubs, culminating in a groundbreaking vision for harmonizing environmental health with ec