The Economics of climate change prevention: Benefits, Costs and Policy Options

Author(s): Brian Murray

Published: September 2009

Recent times have produced a subtle yet profound shift in the policy debate over climate change. The science is not-and probably never will be-settled, but there is less doubt that climate change is real and problematic and more debate about what should be done about it. When an issue moves from whether to what, it becomes a matter of identifying options and selecting the best among them. Economics is certainly not the only filter used for identifying and choosing among policy options-moral imperative, precaution, equity, and political feasibility all enter in the mix. Yet understanding how these options could affect the economy is central to the lengths we take to pursue climate action, particularly with economic concerns as heightened as they are at this time.

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