- Title Pages
- Dedication
- Acknowledgements
- List of Figures and Tables
- List of Contributors
- 1 Designing Institutions for Future Generations
- 2 Institutional Design and Sources of Short-Termism
- 3 Intergenerational Justice
- 4 Measuring Intergenerational Fairness
- 5 Can we Represent Future Generations?
- 6 Generational Sovereignty
- 7 An Ombudsman for Future Generations
- 8 Political Institutions for the Future
- 9 A World Climate Bank
- 10 Constitutionalizing Intergenerational Provisions
- 11 Democratic Trusteeship
- 12 A Common Heritage Fund for Future Generations
- 13 Electoral Design, Sub-Majority Rules, and Representation for Future Generations
- 14 Philanthropy and Intergenerational Justice
- 15 The Deliberative Democratic Inclusion of Future Generations
- 16 Youth Quotas, Diversity, and Long-Termism
- 17 A General-Purpose, Randomly Selected Chamber
- 18 Piloting Responsibility and Intergenerational Justice
- 19 The People’s Endowment
- 20 Democratic Firms
- 21 Archiving for the Future
- 22 Alumni Involvement and Long-Termist University Governance
- 23 Pension Funds, Future Generations, and Fiduciary Duty
- 24 Family Planning is Not (Necessarily) the Priority Institution for Reducing Fertility
- Index
A World Climate Bank
A World Climate Bank
- Chapter:
- (p.156) 9 A World Climate Bank
- Source:
- Institutions For Future Generations
- Author(s):
John Broome
Duncan K. Foley
- Publisher:
- Oxford University Press
Greenhouse-gas emissions cause external costs. They create inefficiency on a huge scale. Eliminating the inefficiency would lead to very great benefits, which could be distributed to the people of the world in a way that improves the life of each of them. No one need make a sacrifice. To achieve this result in real terms requires a transformation of the world’s economy. Resources must be shifted out of conventional investment and into reducing greenhouse-gas emissions. To make this possible in practice puts a responsibility on the world’s financial system. The transformation will have to be partly financed by very long-term loans. We need an international financial institution—a World Climate Bank—with enough stability and credibility to finance these large-scale changes
Keywords: climate change, externality, pareto improvement, efficiency, social debt, climate bonds, intergenerational compensation, injustice, intergenerational distribution
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- Title Pages
- Dedication
- Acknowledgements
- List of Figures and Tables
- List of Contributors
- 1 Designing Institutions for Future Generations
- 2 Institutional Design and Sources of Short-Termism
- 3 Intergenerational Justice
- 4 Measuring Intergenerational Fairness
- 5 Can we Represent Future Generations?
- 6 Generational Sovereignty
- 7 An Ombudsman for Future Generations
- 8 Political Institutions for the Future
- 9 A World Climate Bank
- 10 Constitutionalizing Intergenerational Provisions
- 11 Democratic Trusteeship
- 12 A Common Heritage Fund for Future Generations
- 13 Electoral Design, Sub-Majority Rules, and Representation for Future Generations
- 14 Philanthropy and Intergenerational Justice
- 15 The Deliberative Democratic Inclusion of Future Generations
- 16 Youth Quotas, Diversity, and Long-Termism
- 17 A General-Purpose, Randomly Selected Chamber
- 18 Piloting Responsibility and Intergenerational Justice
- 19 The People’s Endowment
- 20 Democratic Firms
- 21 Archiving for the Future
- 22 Alumni Involvement and Long-Termist University Governance
- 23 Pension Funds, Future Generations, and Fiduciary Duty
- 24 Family Planning is Not (Necessarily) the Priority Institution for Reducing Fertility
- Index
