Terry L. Anderson - Adapt and Be Adept: Market Responses to Climate Change

ADVANCE PRAISE FORAdapt and Be Adept

In the flood of books and articles about what people should do, or how guilty people should feel, about global warming, this book stands out: it is all about what people will do as climate change, or even the threat of climate change, alters the incentives, challenges, and opportunities that people face. It is thus far more realistic, honest, and helpful than much of the discussion about climate change policy.

Matt Ridley, author of How Innovation Works and The Rational Optimist

With headlines of gloom and doom, its no surprise that a large portion of the developed world population sees climate change as an imminent and existential threat to humanity. This book provides the missing, grounded hope, based upon our species remarkable ability to adapt and flourish, driven in part by market forces, pricing, and reallocating risk. We do this every day, continually adjusting to supply and demand, risk and reward, in our normal behaviors, so why is it so novel to contemplate climate change with the same lens? This book tells us how we can adapt, are adapting, and will continue to adapt to the effects of climate change.

Lance Gilliland, managing director, Tudor, Pickering, Holt & Co.

You dont have to agree with Anderson et al.s faith in the marketsand I often dontto know this book is important. Whatever we do politically, the planet will keep on warming and the money will keep on moving to higher ground, and these are the two inescapable truths of humankinds next centuries on Earth. Anyone who cares about the future should pay attention.

McKenzie Funk, author of Windfall and writer for Harpers, National Geographic, and Rolling Stone

Adapt and Be Adept brings solid economic thinking to the challenge of harnessing market forces in the service of adaptation to a changing and variable climate, a topic too long neglected by policy makers.

G. Tracy Mehan III, executive director for government affairs, American Water Works Association, and former assistant administrator for water, US Environmental Protection Agency

ADAPTAND BEADEPT

With its eminent scholars and world-renowned library and archives, the Hoover Institution seeks to improve the human condition by advancing ideas that promote economic opportunity and prosperity, while securing and safeguarding peace for America and all mankind. The views expressed in its publications are entirely those of the authors and do not necessarily reflect the views of the staff, officers, or Board of Overseers of the Hoover Institution.

hoover.org

Hoover Institution Press Publication No. 719

Hoover Institution at Leland Stanford Junior University, Stanford, California 94305-6003

Copyright 2021 by the Board of Trustees of the Leland Stanford Junior University

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without written permission of the publisher and copyright holders.

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First printing 2021

272625242322217654321

Library of Congress Cataloging-in-Publication Data

Names: Anderson, Terry L. (Terry Lee), 1946- editor.

Title: Adapt and be adept : market responses to climate change / edited by Terry L. Anderson.

Other titles: Hoover Institution Press publication ; 719.

Description: Stanford, California : Hoover Institution Press, Stanford University 2021. | Series: Hoover Institution Press publication ; no. 719 | Includes bibliographical references and index. | Summary: This volume features seven essays exploring different ways market forces can help governments and populations adapt to the environmental and economic effects of climate changeProvided by publisher.

Identifiers: LCCN 2020051684 (print) | LCCN 2020051685 (ebook) | ISBN 9780817924553 (paperback) | ISBN 9780817924560 (epub) | ISBN 9780817924577 (mobi) | ISBN 9780817924584 (pdf)

Subjects: LCSH: Climatic changesGovernment policy. | Climatic changesEconomic aspects.

Classification: LCC QC903 .A2428 2021 (print) | LCC QC903 (ebook) | DDC 363.738/74561dc23

LC record available at https://lccn.loc.gov/2020051684

LC ebook record available at https://lccn.loc.gov/2020051685