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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
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.

Keywords

Industrial strategyDecarbonisationMarket failurePolicyGovernmentEconomics
Type
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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