The MCC Common Economics Blog is an online platform that facilitates our aim of strengthening the dialogue between science, policymakers and the public. As "cartographers of knowledge" at the science policy interface, we map the state of science at the MCC: up-to-date content on the topics assessments, coal, carbon pricing, urbanization, development and negative emissions. We want to convey crucial information in an easy-to-digest way and communicate our scientific findings to major stakeholders and the public.
The MCC Common Economics Blog reflects on a new challenge for the future of our economic system: The prosperity of the 21st century will be determined by the sustainable management of the global commons such as the atmosphere, oceans and forests. In its function as a sink for CO2 and other greenhouse gases, the atmosphere is a global common-pool resource. Essentially, the mitigation of climate change is a global public good, posing policy challenges both at the national level (within countries) as well as at the international level (between countries). We seek to understand the impact of climate change and climate change mitigation on long-term welfare and growth.
Currently however, the commons are treated as “no man’s land” that is available to everyone free of charge. Although everybody benefits from their sustainable usage, there are incentives for free-riding. With every nation thinking this way, individual shrewdness turns into collective stupidity. Some form of cooperation will be a survival condition for humanity. It is the mission of the MCC Common Economics Blog to develop, foster and communicate critical and policy-relevant knowledge in the economics of climate change and sustainability.
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