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Spring 2015

ISSN 0890-913X

Volume 30, Number 1

Categories: Spring 2015 | Environmental science

Climate Change, the Knowledge Problem, and the Good Life

Saifedean Ammous , Lebanese American University

Edmund Phelps , Center on Capitalism and Society, Columbia University

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TheJournalofPrivateEnterprise30(1),2015,35–44ClimateChange,theKnowledgeProblem,andtheGoodLifeSaifedeanAmmousLebaneseAmericanUniversityEdmundPhelps∗CenteronCapitalismandSociety,ColumbiaUniversity______________________________________________________AbstractWemustaddressthechallengeofclimatechangethroughtheprismoftheknowledgeproblemand—nolessimportant—fromtheperspectiveofthegoodlife.Whendiscussingoursociety’sbigproblems,wetendtoassumethatwehavetheknowledgerequiredtoactonthem.Wealsotendtoassumethatourintentionswilltranslateseamlesslytothedesiredconsequences.Knowledgeproblemsarewhybothoftheseassumptionscanbewrong—andwhytheycanleadtounintendedoutcomes,someofthemdisastrous.Thispaperbrieflyoutlinessomeoftheproblemswithourknowledgeofclimateandenergysystems,howtheseproblemscanaffectplanningandpoliciesonclimatechange,andhowtheseplansandpoliciescometobearontheconceptionofthegoodlife.Thecaseofbiofuelspoliciesillustratestheseproblems.______________________________________________________JELCodes:B53,H23,Q01Keywords:climate,carbon,emissions,biofuels,knowledge“Thecurioustaskofeconomicsistodemonstratetomenhowlittletheyknowaboutwhattheyimaginetheycandesign.”—FriedrichHayekI.TheUnknowabilityofFutureAdvanceFiftyyearsago,thethoughtofsevenbillionpeopleonearthseemedimpossible.Anotherfiftyyearsbeforethat,theideaofthreebillionpeopleonearthlookedunimaginable.Twohundredyearsago,theideaoftwobillionpeoplewouldhavesoundedhereticalto∗ThispaperisexpandedfromapresentationPhelpsgaveatSt.JamesPalace,London,onMay27,2009.SomeofthethoughtsherewerealsosketchedearlierinPhelps(2009).AndportionsheredrawonAmmous’sdoctoralthesisinColumbiaUniversity’ssustainabledevelopmentprogram(2011).35

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Metadata [hide]

Title	Climate Change, the Knowledge Problem, and the Good Life
Authors/Creators:	Saifedean Ammous , Lebanese American University Edmund Phelps , Center on Capitalism and Society, Columbia University
Year:	2015
Volume:	30
Number:	1
Pages:	35 - 44
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	climate, carbon, emissions, biofuels, knowledge

Citation:
Ammous, Saifedean; Phelps, Edmund / 2015. "Climate Change, the Knowledge Problem, and the Good Life." The Journal of Private Enterprise, 30(1): 35-44.