This paper provides a short introduction to the heated debate over the economics of climate change. It discusses the main economic trends in the modern age which contributed to the emergence of an environmental crisis

M. Metin Başbay 10 March 2020

This paper provides a short introduction to the heated debate over the economics of climate change. It discusses the main economic trends in the modern age which contributed to the emergence of an environmental crisis. Second, it investigates the economic implications of increasing environmental degradation, which involves an analysis of the asymmetric effects of climate change on developed and developing countries. Lastly, some solutions proposed by professional economists are examined. Taking the claim that climate change mitigation remains within the realm of possibility as a basis, an argument is advanced regarding the profound changes the economic system must undergo in order to avert disaster. Ironically, the modern world’s great dynamism and capacity for change, which led to the current crisis in the first place, may be the most important advantage humanity has in this battle. However, successful mobilization of this power first requires a reformation in the international political economy.

Download the Discussion Paper