Interdisciplinary Economics Information, The Team

Welcome to the Interdisciplinary Economics Information website. Our team established this website in order to answer our readers questions about the boundaries of economic science by providing information in a clear and concise manner.

The global economic environment is in a state of turmoil and faces innumerable challenges ahead. One major concern is the intersection of economic and environmental pressures. For example, the economic impact of carbon dioxide emissions and the global warming phenomenon has yet to really hit the world economy, though it is only a matter of time.

The most ambitious scenarios for eliminating carbon dioxide emissions as rapidly as technologically feasible (reaching zero or negative net global emissions by the end of this century) require spending up to $150 to $500 per ton of reductions in carbon dioxide emissions by 2050. Using a reasonable set of alternative assumptions, therefore, the damages from a ton of carbon dioxide emissions in 2050 could exceed the cost of reducing emissions at the maximum technically feasible rate.

Once this is the case, the exact value of the social cost of carbon loses importance: the clear policy prescription is to reduce emissions a rapidly as possible, and cost-effectiveness analysis offers better insights for climate policy than cost-benefit analysis.

What is clear is that an economic model that takes into account such impending threats is vital, whereas the current global system appears very much a reactionary one. We fight fires instead of planning ahead with major investment in renewable technologies such as solar power, and our economies suffer as a result. We believe the time is now for a new perspective

Let us know if you have any questions regarding Interdisciplinary Economics Information.