The Financial Times selected The Climate Casino as a Best Book of the year and little wonder: Noble Prize-winning economist William D. Nordhaus merges the technical, economic and political aspects of climate change to offer an astute analysis of its effects in each of those arenas and in combination. Nordhaus also provides a remarkably clear and readable breakdown of how developed and developing nations might address the costs of climate change. Investors in particular will benefit from his comprehensive investigation.
Nordhaus explains that the science behind the assertion that greater amounts of carbon dioxide and greenhouse gases in the atmosphere trap the sun’s heat on Earth is more than a century old. The 14ºC [57.20F] average global temperature that the planet experienced in the unusually stable conditions of the past 7,000 years is changing. He delicately refers to contrarians and parties with special interests as those who resist the evidence of climate science.