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Yale economist who changed reasoning on climate change wins Nobel Prize

A premise of his research was that the environment is a public good

William Nordhaus
William Nordhaus | Photo: Wikipedia

Yale economist William Nordhaus has devoted his life’s work to understanding the costs of climate change and advocating the use of a carbon tax to curb global warming. It’s no small irony, then, that on the same day his research shared in the Nobel Memorial Prize in Economic Sciences, a United Nations panel released its latest report on the mounting dangers of climate change. In fact, the report builds upon much of Nordhaus’ work and warns that we have only about a dozen years to keep temperatures below 1.5 degrees Celsius to avoid environmental catastrophe. This ...