JEL Code
P18, Q00, Q54, Q58, Z18
Abstract
William Nordhaus won a Nobel Prize for work on the economics of climate change. He advocated for the government policy of carbon pricing arguing that climate is a public good, free riders undermine action, there are unpriced negative externalities, and individuals can’t slow climate change. Nordhaus assumes that climate science is certain enough to design effective policy. This paper challenges that thinking and shows that individuals can and ARE slowing climate change. I will also review the risks of government policy, highlight the uncertainty in present day climate science, and conclude by showing that free markets are the best “policy”.
Recommended Citation
Lyons, Glen
(2025)
"Climate Change Demands Free Markets,"
Journal of New Finance: Vol. 3:
No.
3, Article 2.
DOI: 10.46671/2521-2486.1038
Available at:
https://jnf.ufm.edu/journal/vol3/iss3/2
Approval Date
2-24-2025
Publication Date
2-24-2025