William D. Nordhaus

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William D. Nordhaus


Born
in Albuquerque, The United States
May 31, 1941

Genre


William Dawbney Nordhaus is an American economist and Sterling Professor of Economics at Yale University, best known for his work in economic modelling and climate change.

He is one of the laureates of the 2018 Nobel Memorial Prize in Economic Sciences. Nordhaus received the prize "for integrating climate change into long-run macroeconomic analysis".

He studied at Yale University and completed his PhD in 1967 at the Massachusetts Institute of Technology. He has been associated with Yale University since 1967 and a professor there since 1973. He has been a member of the Brookings Panel on Economic Activity since 1972, and from 1977 to 1979 he was an economic advisor to President Jimmy Carter’s administration.

William Nordhaus’ findings deal wi
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“The problem is that those who produce the emissions do not pay for that privilege, and those who are harmed are not compensated.”
William D. Nordhaus, The Climate Casino

“The principle underlying solar radiation management is to slow or reverse warming by changing the energy balance of the earth. You can think of the process as making the earth “whiter” or more reflective, so that less sunlight reaches the surface. This cooling effect will offset the warming that comes from the accumulation of CO2 in the atmosphere. The whitening process is similar to changes that occur after large volcanic eruptions. After Mount Pinatubo blasted 20 million tons of particles into the stratosphere in 1991, global temperatures fell by about 0.4°C. Geoengineering can be viewed as creating artificial volcanic eruptions, and five or ten artificial Pinatubo eruptions might need to be created every year to offset the warming effects of CO2 accumulation.”
William D. Nordhaus, The Climate Casino

“In recent years there have been many proposals for geoengineering through solar radiation management. Some involve literally making the earth whiter (say, by using white roofs and roads). Perhaps the easiest to visualize is putting millions of little mirror-like particles 20 miles above the earth. For example, we might artificially increase sulfate aerosols in the stratosphere above background levels. This would increase the planetary albedo or whiteness and reduce incoming solar radiation. Climate scientists have calculated that reflecting about 2 percent of solar output could offset the warming effect of a doubling of CO2. The right number of particles in the right place could reduce solar radiation and cool the earth by the desired amount.”
William D. Nordhaus, The Climate Casino

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