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Climate change lends itself to both political economy and humor. Vogel argues that mainstream economics fails to recognize the thermodynamic nature of climate change, thereby missing the point of Northern appropriation of the atmospheric sink. The payment Ecuador seeks for not drilling in the Yasuní is equitable and efficient. Heeding the call of Deirdre (formerly Donald) McCloskey that economics needs humor, Vogel has written a scathing critique of economics-as-usual which also entertains.
'…[R]efreshing and persuasive…pos[ing] important questions for mainstream economics and co-operation theory…a call to arms for the use of multiple, radical means to mitigate climate change.' —‘International Journal of Environmental Studies’
Joseph Henry Vogel is Professor of Economics at the University of Puerto Rico-Río Piedras and serves on the International Tribunal of Climate Justice.
Graciela Chichilnisky has worked extensively in the Kyoto Protocol process, creating and designing the carbon market that became international law in 2005.
Prologue by José Manuel Hermida; Foreword by Graciela Chichilnisky; Introduction; Acknowledgments; Abbreviations; Chapter 1: Thermodynamics: The Language Chosen Defines the Debate; Chapter 2: The Tragedy of the Commons: A Class of Problems that has no Technical Solution; Chapter 3: The Willful Ignorance of Realpolitik: Market Failure or Cost-shifting Success?; Chapter 4: The General Theory of Second Best: A Rigorous Justification for an Intuitively Just Proposal; Chapter 5: Through the Bottleneck of a Cowboy Economy: Financing Shovel-ready Projects; Conclusions: Reason for Hope and Despair; Appendix: Annotated YouTube Filmography; Notes; Index