Innovation and the dynamics of global warming |
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Authors: | Ralph A. Winter |
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Affiliation: | Sauder School of Business, UBC, Canada |
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Abstract: | Global warming and the carbon cycle are a dynamic system with positive feedbacks. Fossil fuels are exhaustible resources. These two facts mean that innovation in clean energy technology, rather than mitigating global warming, can lead to a permanently higher temperature path. This paper explores the impact of innovation in the simplest model linking the economic theory of exhaustible resources with positive feedback dynamics in the carbon cycle. |
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Keywords: | Q54 Q55 Q58 Q35 Q42 |
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