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Nordhaus on philosophy in climate change economics

Author

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  • Laurent JODOIN

    (Interuniversity Research Center on Science and Technology (CIRST), the University of Montreal (Canada) and Econoler)

Abstract

Nordhaus’ contribution to climate change economics is well-known and, for many, praiseworthy. But his refusal to acknowledge his normative stances is philosophically problematic. This article explores his arguments about philosophy in the economics of climate change found in his review of the Stern’s Review (2007). It concludes that Nordhaus nonetheless relies on normative, ethical assumptions, whose oversight hinders the finding of a solution to the problems he tries himself to solve.

Suggested Citation

  • Laurent JODOIN, 2020. "Nordhaus on philosophy in climate change economics," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 13(2), pages 81-90, November.
    • Handle: RePEc:bus:jphile:v:13:y:2020:i:2:n:3
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    References listed on IDEAS

    as
    1. Kahn, Matthew E. & Mohaddes, Kamiar & Ng, Ryan N.C. & Pesaran, M. Hashem & Raissi, Mehdi & Yang, Jui-Chung, 2021. "Long-term macroeconomic effects of climate change: A cross-country analysis," Energy Economics, Elsevier, vol. 104(C).
    2. William D. Nordhaus, 2007. "A Review of the Stern Review on the Economics of Climate Change," Journal of Economic Literature, American Economic Association, vol. 45(3), pages 686-702, September.
    3. Stern, Nicholas, 2014. "Ethics, Equity And The Economics Of Climate Change Paper 1: Science And Philosophy," Economics and Philosophy, Cambridge University Press, vol. 30(3), pages 397-444, November.
    4. Nordhaus, William D, 1977. "Economic Growth and Climate: The Carbon Dioxide Problem," American Economic Review, American Economic Association, vol. 67(1), pages 341-346, February.
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    More about this item

    Keywords

    Nordhaus; climate change economics; normativity; ethics; discounting;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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