The Ultimate Game Against Nature

Economist N. Stern has played a majpe in the scientic debate about global warming. Thus, in 2007 he raised correctly the issue about the biggest even externality in the history of human societies. Thaw emission of GHGs were seen by Stern as an example of market failure, having very serious negative effects upon all countries. In 2015, he asked” What are we waiting for?”, believing perhaps somewhat naively that external effects could internalized between the countries as easily as externalities are corrected within a county. Policy-making and implementation on climate change is very difficult and complicated, because of the PD at the core of global warming.