Just hours before William Nordhaus and Paul Romer won a Nobel Prize on Monday for their work on the economics of climate change, the UN issued a dire warning about global warming.
The report from the Intergovernmental Panel on Climate Change says that an extra single degree of heat could make a life-or-death difference in the next few decades for multitudes of people and ecosystems on this fast-warming planet.
But Romer — whose work focuses on adapting economic theory to take better account of environmental issues and technological progress — says this crisis can easily be averted through economic policy.
https://www.cbc.ca/radio/asithappens/as-it-happens-monday-edition-1.4843029/nobel-prize-winning-economist-says-carbon-taxes-are-the-solution-to-climate-change-1.4854639