Review by Gernot Wagner
The Planet Remade: How Geoengineering Could Change the World, Oliver Morton (Princeton: Princeton University Press, 2015), 440 pp., $29.95 cloth.
Economics is little more than organized common sense. Trade-offs, then, are among the most commonsense aspects of life as we know it. Unconstrained maximization might appear as a theory on a pure math exam, but in economics—as in life—constraints are everywhere. One of the most consequential is how much carbon dioxide the Earth's atmosphere can hold. Another is our political and technical ability to transform global energy infrastructure fast enough to avoid bursting through the carbon constraints.
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