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12 - Not Just Fixing the Foundations

from Part II - Economics

Published online by Cambridge University Press:  19 March 2023

Simon Sharpe
Affiliation:
World Resources Institute, London
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Summary

Traditional economics tells us that to meet policy goals, government should only do the minimum needed to fix a ‘market failure’. A new understanding shows that when the goals are innovation and change, a ‘do the maximum’ approach can be more effective. We should stop aiming to achieve ‘decarbonisation at least cost’, and instead aim to move to the clean economy at maximum gain.

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Chapter
Information
Five Times Faster
Rethinking the Science, Economics, and Diplomacy of Climate Change
, pp. 114 - 124
Publisher: Cambridge University Press
Print publication year: 2023

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