Can We Afford the Future?: The Economics of a Warming World (The New Economics) [Paperback]

Frank Ackerman (Author)

Book Description

Release date: January 6, 2009 | Series: The New Economics

According to many scientists, climate change is a growing threat to life as we know it, requiring a large-scale, immediate response. According to many economists, climate change is a moderately important problem; the best policy is a slow, gradual start, to avoid spending too much. They can't both be right.

In this book, Frank Ackerman offers a refreshing look at the economics of climate change, explaining how the arbitrary assumptions of conventional theories get in the way of understanding this urgent problem. The benefits of climate protection are vital but priceless, and hence often devalued in cost-benefit calculations. Preparation for the most predictable outcomes of global warming is less important than protection against the growing risk of catastrophic change; massive investment in new, low carbon technologies and industries should be thought of as life insurance for the planet.

Ackerman makes an impassioned plea to construct a better economics, arguing that the solutions are affordable and the alternative is unthinkable. If we can't afford the future, what are we saving our money for?

Can we Afford the Future? is part of The New Economics series, which uses the ideas behind a new, more human economics to provide a fresh way of looking at major contemporary issues.

Editorial Reviews

Review

'Frank Ackerman provides the ammunition that advocates of strong climate policy need to debunk the conclusion that stabilizing our future climate is 'too expensive'.' - Stephen H. Schneider, Stanford University 'This book is essential reading for anyone trying to understand the major economic debates around the major new long-term challenge of our times - global warming. Frank Ackerman has done us all a great service with this very accessible critical survey of the varied and complicated issues involved.' - Jomo Kwame Sundaram, UN Assistant Secretary General for Economic Development

About the Author

Frank Ackerman is a research fellow at Global Development and Environment Institute and a senior scientist at Stockholm Environment Institute-US Centre, both at Tufts University. He is a founding member of Economists for Equity and Environment (E3) and a member scholar of the Centre for Progressive Reform. He has directed major policy studies for organizations ranging from Greenpeace to the European Parliament. He has written numerous academic and popular articles on the economics of climate change, energy and environmental policy. His previous books include Poisoned for Pennies: The Economics of Toxics and Precaution, and (with Lisa Heinzerling) Priceless: On Knowing the Price of Everything and the Value of Nothing.

Product Details

• Paperback: 160 pages
• Publisher: Zed Books (January 6, 2009)
• Language: English
• ISBN-10: 1848130384
• ISBN-13: 978-1848130388
• Product Dimensions: 5 x 0.5 x 7.8 inches
• Shipping Weight: 6.4 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #869,143 in Books (See Top 100 in Books)

Most Helpful Customer Reviews

10 of 10 people found the following review helpful

5.0 out of 5 stars A good first book on climate economics January 15, 2009

By John Mashey

Format:Paperback|Amazon Verified Purchase

This is a clear, readable first book for the non-economist, to start understanding the economics around climate change, and the various differing arguments by economists.

Unlike climate *science*, where most real scientists agree on the fundamentals, it seems that real economists have some fundamental arguments about climate *economics*, although that might be because I have more exposure to the former than the latter. It is often hard for a layperson learning a new topic to know whether disagreements are serious or relatively minor.

In any case, it really helps to have a good overview of the arguments, before diving into the details.

I've studied the Stern Review, the Nordhaus DICE model, Lomborg books, other books, other papers, and other discussions ...
and reading this book first would certainly have saved me effort.

So, start here, then sample his references for other viewpoints.

I especially liked his 4 bumper stickers, which handily summarize the book:

Your grandchildren's lives are important
We need to buy insurance for the planet
Climate damages are too valuable to have prices
Some costs are better than others

2 of 2 people found the following review helpful

5.0 out of 5 stars To afford a future May 25, 2011

By Brian Cady

Format:Paperback

Interesting eminently readable introduction, with some outstanding analogies. I especially liked the the card game analogy, with the ever-changing deck. The discussion of the wisdom of discounting our grandchidren's world to present value, and the relative wisdom of discounting at different interest rates, are both great points, well- and briefly-made. Also important is the addressing of climate as insurance versus as investment. Altogether an important and accessible book.