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Answer to Question #54506 in Microeconomics for jared

Question #54506
According to economic theory, under what circumstances should a government intervene in issues of climate change?
Expert's answer
Decisions on global warming need to be made with incomplete information, and that decisions in the near term will have potentially long-term impacts. Governments might choose to use risk management as part of their policy response to global warming. For instance, a risk-based approach can be applied to climate impacts which are difficult to quantify in economic terms, e.g., the impacts of global warming on indigenous peoples.

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