The Climate Casino

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The 2018 Nobel laureate for economics examines the intricate politics and economics of climate change, offering pathways to effective solutions. Climate change is drastically reshaping our world, presenting significant risks to human societies and natural systems. Economist William Nordhaus warns that we have entered the Climate Casino, rolling the dice on global warming. However, he asserts that there is still time to reverse course. In this essential work, Nordhaus addresses the critical issues surrounding the climate debate, detailing the science, economics, and politics involved, along with necessary actions to mitigate global warming risks. He communicates in accessible language, presenting various viewpoints fairly, and traces the problem from its roots in personal energy consumption to the broader societal measures—such as regulations, taxes, and subsidies—aimed at curbing harmful emissions. Nordhaus provides a fresh analysis of the shortcomings of past policies, like the Kyoto Protocol, and outlines new strategies that can succeed. Ultimately, he clarifies this pressing issue of our time and delineates the crucial steps needed to slow the progression of global warming.