Climate Problems: Market and Ethics

Kirsten Halsnæs*, Niels Kærgård

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingBook chapterResearchpeer-review


The climate crisis is the major global problem of our time. As markets like those for energy have had a crucial role in the development of this problem, their management is a crucial precondition for its resolution. However, this is far from simple in light of classic market failures in respect of, for example, externalities and public goods. This is not a matter of short-term effects but of longer-term impacts lasting decades and centuries. This raises ethical issues about relations between the generations, and thus long-term sustainability. As a global problem, the climate crisis also requires international burden-sharing. Finally, the uncertainties involved are huge, especially in assessing the various tipping points. The role of economics and ethics in handling these problems is the topic of this chapter.

Original languageEnglish
Title of host publicationEthical Economy
Number of pages11
PublisherSpringer Science and Business Media B.V.
Publication date2023
Publication statusPublished - 2023
SeriesEthical Economy


  • Climate change
  • Economic instruments
  • Sustainability
  • Uncertainty


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