Facing the Climate Change Challenge in a Global Economy

Over the past two decades, the international community has struggled to deal constructively with the problem of mitigating climate change. This is considered by many to be the preeminent public policy challenge of our time, but real progress has been disappointingly slow. This essay provides an abbreviated narrative history of international policy in this domain, with a special emphasis on aspects of the problem, proposed solutions, and unresolved issues that are of interest to international economists and informed observers of the global economic system. It discusses the potential conflict that could emerge between free trade principles and environmental policy imperatives.

Author(s): Lee Branstetter and William A. Pizer

Published: January 2012

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