Economic Theory and Global Warming

Hirofumi Uzawa's theoretical framework addresses three major problems concerning global warming and other environmental hazards. First, it considers all phenomena involved with global environmental issues that exhibit externalities of one kind or another. Secondly, it covers global environmental issues involving international and intergenerational equity and justice. Lastly, it deals with global environmental issues concerning the management of the atmosphere, the oceans, water, soil, and other natural resources having to be decided by a consensus of affected countries.