How to solve the climate problem?

Abstract

Climate change is a small problem with a simple solution. A century of climate change causes as much damage as skipping a year, perhaps a decade of economic growth. Stabilizing the atmospheric concentrations of greenhouse gases can be achieved at a minimal cost, provided policy is smart and gradual. Current climate policy has been captured by rent-seekers and millennialists. Climate policy would be more effective if it would capitalize on the ongoing revolution in energy supply.