- Published on Monday, November 10, 2014
After last week's historic climate change deal between the U.S. and China, Geoffrey Heal, a coordinating lead author of the IPCC reports and professor of social enterprise at Columbia Business School, joined SCEPA to discuss how to secure a global agreement. His presentation put forward an optimistic message based on John Nash's game theory.
First, he called for coalition formation based on initial agreements between the three largest emissions producers - China, E.U. and the U.S. - incentivizing other countries to follow and removing the disincentive of competitive disadvantage when acting alone.
Second, he called for an evolution in the discussion of climate change mitigation beyond timelines and targets, instead focusing on the technological innovations necessary to replace fossil fuels with renewable energy. His presentation specified the current technical limitations and focused on alternatives that were or could be competitve in the market.
Geoffrey Heal's Climate Work
Professor Heal is noted for contributions to economic theory and resource and environmental economics. His recent books include Nature and the Marketplace, Valuing the Future, When Principles Pay and Whole Earth Economics (forthcoming).
Heal chaired a committee of the National Academy of Sciences on valuing ecosystem services, served as a Commissioner of the Pew Oceans Commission, a member of President Sarkozy's Commission on the Measurement of Economic Performance and Social Progress, a member of the advisory board for the World Bank's 2010 World Development Report and the United Nations Environment Program's 2011 Human Development Report, and acts as an advisor to the World Bank on its Green Growth project.
Economics of Climate Change
Heal's lecture was hosted by SCEPA's Economics of Climate Change Project, led by New School Professor of Economics Willi Semmler and in coordination with The New School's Tishman Environment and Design Center. The project is generously supported by the Fritz Thyssen Foundation and the German Research Foundation (DFG).
- Published on Friday, September 26, 2014
On October 3, 2014, SCEPA hosted a discussion with economist and author Thomas Piketty (included in economist Brad DeLong's blog as a "Must Watch"). Piketty's best-selling book, Capital in the Twenty-First Century, serves as a watershed example of the dual contradictions of capitalism and proves that the last century was characterized by a sharp divergence between social classes. He warns that the main driver of inequality—the tendency of returns on capital to exceed the rate of economic growth—threatens to generate extreme inequalities that stir discontent and undermine democratic values.
Much like Piketty's work, economists at The New School for Social Research strive to analyze the dynamics of capitalism using historical and empirical analysis and, through SCEPA, its policy implications. Following Piketty's remarks, New School Professor Anwar Shaikh and Executive Director and Chief Economist at the Washington Center for Equitable Growth Heather Boushey presented their own comments and joined in a panel discussion to answer the question, where do we go from here?
Thomas Piketty, Capital in the 21st Century
Anwar Shaikh, Inequality and Social Structure: Comments on Piketty