Global warming deniers have lost the debate. However, recognizing the problem and arresting it are two different things (tag). An article by Sunstein at WaPo talks on one of the obstacles of combating global warming:
The obstacle stems from the unusual incentives of the United States and China. As the world’s leading contributors to climate change, these are the two countries that would have to bear the lion’s share of the cost of greenhouse gas reductions. At the same time, they are both expected to suffer less than many other nations from climate change — and thus are less motivated to do something about it. And while the international spotlight has rightly been on the behavior of the United States, China will soon present the more serious problem.
This is of course, like what Prof. Mankiw said, is relevant to the Coase Theorem. Coase Theorem is also related to the transboundary haze in Southeast Asia.
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