This book is a philosophical critique of the economics of climate change from both an ethical and philosophy of economics perspective. Mitigating climate change is not so much a scientific problem, but rather a political, social and above all an economic problem. A future without greenhouse gas emissions requires a radical transformation towards a sustainable low-carbon economy and society. How this transformation could be achieved raises numerous economic questions. Many of these questions remain untouched, although economists are equipped with a suitable toolkit and expertise.
This book argues that economists have a social responsibility to carry out more research on how global warming could be stopped and that, ultimately, economic analysis of climate change must be a political economic approach that treats the economy as part of a wider social system. This approach will be of interest to policy makers, educators, students and researchers in support of more pluralism in economic research and teaching.
Author(s): Michael Roos, Franziska M. Hoffart
Series: Palgrave Studies in Sustainability, Environment and Macroeconomics
Publisher: Palgrave Macmillan
Year: 2021
Language: English
Pages: 169
City: Cham
Acknowledgement
Contents
List of Figures
List of Tables
Chapter 1: Introduction
1.1 Climate Change
1.2 Climate Change as an Economic Problem
1.3 Shortcomings of Mainstream Climate Change Economics
1.4 Neoclassical Policy Advice
1.5 Value Judgments
1.6 Transformative Science
1.7 Pluralism in Economics
References
Chapter 2: Importance of Climate Change in Economics
2.1 Introduction
2.2 Voices on the Contribution of Climate Economic
2.3 Actual Importance of Climate Change in Economics
2.3.1 Journal Articles on Climate Change
2.3.2 Field Journals Devoted to Climate Change
2.3.3 PhD Theses on Environmental Aspects
References
Chapter 3: Mainstream Climate Economics
3.1 Introduction
3.2 Formal Exposition of the DICE Model
3.2.1 Economic Part: Social Welfare and Economic System
3.2.2 Natural Science Part: The Climate System
3.3 Applications and Conclusions
3.4 Extensions of DICE
3.5 What Makes DICE Mainstream Thinking?
References
Chapter 4: What’s Problematic About Mainstream Climate Economics?
4.1 Introduction
4.2 Pluralism in Economics and Schools of Thought
4.2.1 Austrian Economics
4.2.2 Behavioural Economics
4.2.3 Complexity Economics
4.2.4 Ecological Economics
4.2.5 Evolutionary Economics
4.2.6 Feminist Economics
4.2.7 Institutional Economics
4.2.8 Marxian Economics
4.2.9 Post-Keynesian Economics
4.3 Critique of Mainstream Neoclassical Climate Economics
4.3.1 Neoclassical Economics
4.3.2 Ontological Problems
4.3.3 Epistemological Problems
4.3.4 Methodological Problems
4.3.5 Problems with Normativity
4.4 Implications for Climate Policy
4.4.1 Implementation of Climate Policies
4.4.2 Conditions for the Successful Adoption of Decarbonisation Technologies
4.4.3 Sustainable Behaviour
4.4.4 Understanding the Effects of Climate Change on the Economy
4.4.5 Political Economy and Climate Change
4.4.6 Rethinking of Capitalism and System Change
References
Chapter 5: Why We Do Not Have More Pluralism
5.1 Introduction
5.2 No Free Market of Ideas
5.3 Emulation of Physics and Feeling of Superiority
5.4 Avoidance of Theory of Science
5.5 Strong Standardisation in Teaching
References
Chapter 6: Climate Change and Responsibility
6.1 Introduction
6.2 Climate Change as a Responsibility Crisis
6.2.1 Responsibility in the Context of Climate Change
6.2.2 Climate Change and Responsibility Denial
6.2.3 Problematisation of Economists’ Responsibility
6.3 General Responsibilities of Scientists
6.3.1 Foundation of Scientists’ Responsibilities
6.3.2 Overview of Scientists’ Responsibilities
6.3.3 Discussion of Social Responsibilities
6.4 The Special Responsibility of Economists
6.4.1 The Special Role of Economists
6.4.2 Economists’ Responsibility to Address Climate Change
6.4.3 Responsibility Conflicts in Mainstream Climate Economics
References
Chapter 7: Concluding Thoughts
References
Index
