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Worst-case scenarios are all too real, and all too common. The financial crisis of 2008 was not the first or the last to destroy jobs, homeownership and the savings of millions of people. Hurricanes clobber communities from New York to Bangladesh. How bad will the next catastrophe be, and how soon will it happen? Climate and financial crises are serious events, requiring vigorous responses. Yet public policy is trapped in an obsolete framework, with a simplistic focus on average or likely outcomes rather than dangerous extremes. What would it take to create better analyses of extreme events in climate and finance, and an appropriate policy framework for worst-case risks? ‘Worst-Case Economics: Extreme Events in Climate and Finance’ offers accessible and surprising answers to these crucial questions.
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From the New York Times bestselling author Dick Russell, edited and introduced by New York Times bestselling author Robert F. Kennedy, Jr.! ”A must read for anyone concerned with climate and energy issues.” —Leonardo DiCaprio, Academy Award winning actor and environmental activist The science is overwhelming; the facts are in. The planet is heating up at an alarming rate and the results are everywhere to be seen. Yet, as time runs out, climate progress is blocked by the men who are profiting from the burning of the planet: energy moguls like the Koch brothers and Exxon Mobil CEO Rex Tillerson. Powerful politicians like Senators Mitch McConnell and Jim Inhofe, who receive massive contri...