FitzRoy and Papyrakis highlight how economists and policymakers often misunderstand the science of climate change, underestimate the growing threat to future civilization and survival and exaggerate the costs of radical measures needed to stabilize the climate. In contrast, they show how direct and indirect costs of fossil fuels – particularly the huge health costs of local pollution – actually exceed the investment needed for transition to an almost zero carbon economy in two or three decades using available technology.
Felix R. FitzRoy is Professor Emeritus of Economics in the School of Economics and Finance at the University of St. Andrews in the UK.
Elissaios Papyrakis
is a Senior Lecturer in Economics at the International Institute of Social Studies of the Erasmus University Rotterdam in the Netherlands and in the School of International Development of the University of East Anglia in the UK.