“The problem of climate change has been described as the “the greatest and widest ranging market failure ever seen” by Sir Nicolas Stern, author of the Stern Review on the Economic of Climate Change. The economic damages are not yet on track to compare with the Great Depression, but we should look to history to provide some lessons for how to deal with the emerging climate crisis. We need a “New Deal” for the environment, with governments taking action in four areas: demonstrating leadership, investing in the future, promoting equality and strengthening our democracy.”
http://www.policyalternatives.ca/MonitorIssues/2007/09/MonitorIssue1725/
