From Scientific American:
Future generations will suffer most of the harmful effects of global climate change. Yet if the world economy grows, they will be richer than we are.
- The present generation must decide, with the help of expert advice from economists, whether to aggressively reduce the chances of future harm or to let our richer descendants largely fend for themselves.
- Economists cannot avoid making ethical choices in formulating their advice.
- Even the small chance of utter catastrophe from global warming raises special problems for ethical discussion.
What should we do about climate change? The question is an ethical one. Science, including the science of economics, can help discover the causes and effects of climate change. It can also help work out what we can do about climate change. But what we should do is an ethical question.
More here.