Climate Shock: The Economic Consequences of a Hotter Planet, by Gernot Wagner, Martin L. Weitzman
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Climate Shock: The Economic Consequences of a Hotter Planet, by Gernot Wagner, Martin L. Weitzman
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If you had a 10-percent chance of having a fatal car accident, you'd take necessary precautions. If your finances had a 10-percent chance of suffering a severe loss, you'd reevaluate your assets. So if we know the world is warming and there's a 10-percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren't we doing more about climate change right now? We insure our lives against an uncertain future - why not our planet?
In Climate Shock Gernot Wagner and Martin Weitzman explore in lively, clear terms the likely repercussions of a hotter planet, drawing on and expanding from work previously unavailable to general audiences. They show that the longer we wait to act, the more likely it is that an extreme event will happen. A city might go underwater.
What we know about climate change is alarming enough. What we don't know about the extreme risks could be far more dangerous. Wagner and Weitzman help listeners understand that we need to think about climate change in the same way that we think about insurance - as a risk-management problem, only here on a global scale.
Demonstrating that climate change can and should be dealt with - and what could happen if we don't do so - Climate Shock tackles the defining environmental and public policy issue of our time.
Climate Shock: The Economic Consequences of a Hotter Planet, by Gernot Wagner, Martin L. Weitzman- Amazon Sales Rank: #73999 in Audible
- Published on: 2015-06-09
- Released on: 2015-06-09
- Format: Unabridged
- Original language: English
- Running time: 294 minutes
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Most helpful customer reviews
38 of 42 people found the following review helpful. Some inconvenient truths for those most committed to solving climate change. By R. Stone There are a great many books about climate change out there and they usually fall into one of two basic categories: A) climate change is a hoax, or B) climate change is terrible problem that can be solved by continuing to ramp up the use of renewable energy plus improvements in energy efficiency. This book takes a third approach that I would highly recommend to anyone who cares about this issue. At it's core, the book makes the compelling argument that anthropogenic climate change is a much more serious problem than is generally recognized by even the most ardent environmentalists, let alone the general public. Moreover, solving the problem is far more complex and daunting than is generally understood by those advocating for traditional green solutions (wind, solar, and efficiency).Understanding the true dimensions of the conundrum we face with climate change is an essential first step in allowing us to make real progress in lessening it's potential to become a civilizational catastrophe. This book does an excellent job in doing just that and is a must-read for environmental leaders and policy makers alike. It's also highly readable (I read it in one sitting) and quite lively - no small feat for a book about climate change from an economic perspective. It's also thoroughly documented. Literally half the book is devoted to footnotes and references for those wishing to challenge it's assertions.The 'inconvenient truth' we face is that carbon emissions need to go to ZERO in very short order, and the book illustrates this very well. Anything short of that is simply insufficient to solve the problem. If that's not shocking enough for you, there's this: geo-engineering will likely be where we end up and we need to start preparing for that eventuality.The book focusses primarily on the economic drivers that are required for a rapid energy transition, with a generally agnostic view towards advocating for any specific non-fossil energy technologies - with the exception of some expressed excitement about the dramatically falling cost of solar PV (even though it currently provides an infinitesimal fraction of the world's energy).Ultimately, the solution to this problem (if any) will be driven by economics. Understanding that is likely a good first step in creating more effective advocacy and public policy. Despite the best intentions, current efforts are having little or no positive impact at altering our drift toward catastrophe. This brief and easily digestible book might encourage some fresh thinking among those most committed to solving the problem.
15 of 18 people found the following review helpful. A thoughtful, cogent, and readable summation... By Jon Anda I hope political leaders in the US will consider this required reading, along with business leaders and investors. If all of them just read Kerry Emmanuel's (MIT) "What we Know", followed by "Climate Shock"...it would only be a few hours each on the science and economics/risk management of climate change. And hours well spent they would be!ps...my only quibble is mixing metaphors with beta and social discount rates, since investment in mitigation bears an uncertain cost, uncertain mitigation, and uncertain climate outcome (ie analogies to bonds aren't all that useful). I think mitigation is better framed as an option on climate stability that is inherently cheap because cost variance < climate damage variance (and cost lacks the fat tail of damages). In any case, Weitzman's climate policy as tail-skimming (not mentioned in the book, but still made quite clear) is the best framing of climate policy, ever.
10 of 12 people found the following review helpful. Fresh and compelling take on the urgency of addressing climate change By T. P. Olson Gernot Wagner's first book (But Will the Planet Notice) was spectacular. And now he has teamed up with the brilliant Marty Weitzman to deliver another clear and potent message: there's a substantial risk that, going down the path we are going in changing the Earth's climate, we will face not just very serious problems, but an unimaginable nightmare. And that risk makes prompt and strong action even more vital than we knew.Somehow, Weitzman and Wagner make the math and statistics that prove their point accessible to dopes like most of us. The book is beautifully written and highly persuasive. It deserves a wide audience.
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