Nobel laureate William Nordhaus, who put a price on carbon, dies at 85
William Nordhaus, Nobel-winning climate economist, dies at 85
William Nordhaus, the Yale economist who won the 2018 Nobel Prize for integrating climate change into long-run macroeconomic analysis, died Oct. 30 of glioblastoma at 85. His DICE model let policymakers weigh the costs of warming against the costs of cutting emissions, and he used it to argue that a carbon tax is the efficient remedy. A Yale fixture for over 50 years, he also served as provost and co-authored the classic "Economics" textbook.
The signal contribution of economics is to recognize that climate change is a harmful unintended side effect of economic growth. The best remedy for such externalities is a pollution charge or what is now known as a carbon tax.
- Alwayshasbeeb
For those unfamiliar with the Nordhaus approach to climate change:
>Nordhaus has opined that agriculture is “the part of the economy that is sensitive to climate change,” but because it accounts for just 3 per cent of national output, climate disruption of food production cannot produce a “very large effect on the U.S. economy.”
https://theecologist.org/2023/nov/01/when-idiot-savants-do-c...
- jonmoore
This audience might appreciate his “Two Centuries of Productivity Growth in Computing”
- toomuchtodo