Monday, January 01, 2007

Economics of global warming

Brad DeLong's column addresses the question of the weight we assign to the well-being of our (probably much richer) descendants a century from now. How we answer this question has consequences for how richer countries deal with poorer ones now. Money quote:

In short, if the world's rich are stingy today toward our much richer descendants, and if we want to leave our environmental mess to them to deal with, we should be lavish toward the world's poor. Likewise, if we are stingy today toward the world's poor, we should be lavish toward our descendants.