Joseph Stiglitz writes in a court brief that fossil fuel-based economies impose ‘incalculable’ costs on society.
Economist Joseph Stiglitz writes of climate change: “There is a point at which, once this harm occurs, it cannot be undone at any reasonable cost or in any reasonable period of time. Based on the best available science, our country is close to approaching that point.” Credit: Win McNamee/Getty Images One of the world’s top economists has written an expert court report that forcefully supports a group of children and young adults who have sued the federal government for failing to act on climate change. Joseph Stiglitz, who was awarded the Nobel Memorial Prize for economics in 2001 and has written extensively about environmental economics and climate change, makes an economic case that the costs of maintaining a fossil fuel-based economy are "incalculable," while transitioning to a lower-carbon system will cost far less. The government, he writes , should move "with all deliberate speed" toward alternative energy sources. Stiglitz has submitted briefs for Supreme Court cases—and normally charges $2,000 an hour for legal advice, the report says—but he wrote this 50-page report pro bono at the request of the attorneys representing the children. It was filed in federal district court in Oregon on June 28. He is one of […]