Jason Hickel in Foreign Policy:
Many people were thrilled when they heard that the Nobel Memorial Prize in Economics this year went to William Nordhaus of Yale University, a man known for his work on climate change. Finally, the economics profession is giving climate the attention it deserves, just as the world is waking up to the severity of our ecological emergency. Media outlets have taken this positive narrative and run with it.
But while Nordhaus may be revered among economists, climate scientists and ecologists have a very different opinion of his legacy. In fact, many believe that the failure of the world’s governments to pursue aggressive climate action over the past few decades is in large part due to arguments that Nordhaus has advanced.
It’s a blazing controversy that hinges on the single most consequential issue in climate economics: the question of growth. The stakes couldn’t be higher. After all, this isn’t just a matter of abstract academic debate; the future of human civilization hangs in the balance.