Book Review: Sustainable Macroeconomics, Climate Risks and Energy Transitions
BOOK REVIEW
It is great fortune for readers when a textbook is both avant-garde and thoroughly contemporary.
The textbook by the two professors Unurjargal Nyambuu and Willi Semmler, who have long been recognized as climate macroeconomists and teach in New York, has both: On the one hand, it is avant-garde because practical approaches and consolidated macroeconomic knowledge in the areas of sustainability, climate risks and ecological transformation are largely missing. On the other hand, it is absolutely timely because the global climate risks caused by human economic activity have started to endanger our livelihoods and are therefore among the most pressing challenges for national and international economic policy. It is precisely macroeconomics that is now called upon to do research on these urging matters and propose practical ways that are conducive to society and democracy by which climate risks can be contained on the one hand and managed on the other.