When it comes to climate change, economists can’t predict the future, says Anne Rathbone Bradley in this week’s Acton Commentary. But economic thinking is a roadmap for prudence and in terms of environmental policy, that’s precisely what we need.
President Donald Trump withdrew the United States from the Paris climate agreement just days ago, provoking a brouhaha over environmental policy. For those who are genuinely concerned about environmental stewardship, we can in fact do better without the UN-sponsored framework. We can generate solutions by using economic incentives to harness human ingenuity.