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The Commons
Becker & Posner on Kyoto
Posted by Jonathan H. Adler  ·  20 December 2004  ·  Climate

Nobel Laureate economist Gary Becker and polymath Judge Richard Posner comment on climate change policy on The Becker-Posner Blog. In short, Judge Posner supports Kyoto due to the risk of catastrophic climate change, Becker does not. While Becker agrees that "it is prudent to take actions to reduce the build-up of carbon gases in the atmosphere," he is skeptical about many government policies, including subsidies for less carbon-intensive fuels, and suggests that Judge Posner's own work on catastrophic risks suggests that climatic change may be the least of our worries.

Comments
  1. It would be more prudent to take actions to mitigate climate change. Kyoto is concerned only with reducing anthropogenic greenhouse gas emissions, however much or little that will do. My solution: Climate Stability Bonds, which would inextricably tie rewards to achievement of climate stability. They would not prejudge how best to mitigate climate change: instead they inject market incentives into the achievement of sustained climate stability.


    Posted by: Ronnie Horesh at December 21, 2004 04:35 AM