Showing papers by "Kenneth J. Arrow published in 2016"

Social norms as solutions

Abstract: Climate change, biodiversity loss, antibiotic resistance, and other global challenges pose major collective action problems: A group benefits from a certain action, but no individual has sufficient incentive to act alone. Formal institutions, e.g., laws and treaties, have helped address issues like ozone depletion, lead pollution, and acid rain. However, formal institutions are not always able to enforce collectively desirable outcomes. In such cases, informal institutions, such as social norms, can be important. If conditions are right, policy can support social norm changes, helping address even global problems. To judge when this is realistic, and what role policy can play, we discuss three crucial questions: Is a tipping point likely to exist, such that vicious cycles of socially damaging behavior can potentially be turned into virtuous ones? Can policy create tipping points where none exist? Can policy push the system past the tipping point?

The Climate Change Challenge and Barriers to the Exercise of Foresight Intelligence

Abstract: Despite solid evidence from the scientific community about climate disruption, much of the US public remains unconvinced about the reality of anthropogenic change, and national governments have been slow to undertake major steps to deal with the climate crisis. In order to understand this lack of foresight intelligence regarding climate disruption, we identify some features of climate disruption and human psychology that combine to create barriers to effective action. We also review encouraging, albeit modest, successes in persuading Americans to conserve energy through “psych-wise” initiatives. Although the reductions in energy consumption accomplished by these initiatives and strategies fall far short of what is required to address impending global climate change, we believe that the principles underlying these initiatives suggest ways to achieve more substantial reductions. We conclude by offering some specific steps that could be taken to achieve such reductions and more generally meet the building global challenge.

On Ethics and Economics: Conversations with Kenneth J. Arrow

Abstract: Part intellectual autobiography and part exposition of complex yet contemporary economic ideas, this lively conversation with renowned scholar and public intellectual Kenneth J. Arrow focuses on economics and politics in light of history, current events, and philosophy as well. Reminding readers that economics is about redistribution and thus about how we treat each other, Arrow shows that the intersection of economics and ethics is of concern not just to economists but for the public more broadly. With a foreword by Amartya Sen, this book highlights the belief that government can be a powerful force for good, and is particularly relevant in the current political climate and to the lay reader as well as the economist.