The economics of the Yasunà initiative : climate change as if thermodynamics mattered /
Joseph Henry Vogel ; foreword by Graciela Chichilnisky.
- 1 online resource (xxvi, 117 pages) : digital, PDF file(s).
Title from publisher's bibliographic system (viewed on 02 Oct 2015).
Thermodynamics: the language chosen defines the debate -- The tragedy of the commons: a class of problems that has no technical solution -- The willful ignorance of realpolitik: market failure or cost-shifting success? -- The general theory of second best: a rigorous justification for an intuitively just proposal -- Through the bottleneck of a cowboy economy: financing shovel-ready projects -- Conclusions: reason for hope and despair.
Climate change lends itself to both political economy and humor. Through the lens of thermodynamics, the payment Ecuador seeks for not drilling in the Yasunà is equitable and efficient.