Valuing Climate Change: The Economics of the Greenhouse ... (ISBN 1853832375)

Economics of global warming made accessible:
Samuel Fankhauser is among the top few economists research the economic effects of climate change. "Valuing Climate Change: the Economics of the Greenhouse" provides a detailed assessment of Fankhauser's work in this area. Whether you are new to this topic or looking to supplement other works in this area, I reccomend that you pick up a copy of this book. In "Valuing Climate Change," Fankhauser provides a fine description of some of the potential costs of global warming, including agricultural losses, coastal threats due to rising sea level, increased energy costs, health impacts, etc. His text decribes the problems in clear, understandable language, and is supplemented with charts, graphs, and tables for those with a more graphically-oriented minds. Fankhauser then outlines his model for estimating costs, presents his results, and uses the results for a cost-benefit analysis of some of the options available to policymakers. As a side note, Fankhauser's methodical approach to this work, clearly and concisely written, makes this book a good choice for those wanting to gain an understanding of the basics process of statistical modelling. It is neither overly technical (although additional technical detail can be found in the appendicies) nor overly vague with respect to Fankhauser's methods and data. As a first selection for those seeking to explore at a scholarly, academic level the topic of economic costs of global warming, I would reccomend William Nordhaus' "Warming the World," which is more current and more rigorous in its analysis. (Both books arrive at qualitatively similar conclusions that efficient abatement policies provide net positive effects and need not be too expensive.) As a supplement, or to those who wish to benefit from Fankhauser's more accessible writing and increased attention to political aspects (e.g., cooperative vs. non-cooperative equilibria), "Valuing Climate Change" is a good choice.