William Nordhaus American economist Date of Birth: 31.05.1941 Country: USA

1. Biography of William Nordhaus
2. Education and Career
3. Achievements and Contributions
4. Authorship and Research
5. Views on Climate Change

Biography of William Nordhaus

William Dawbney 'Bill' Nordhaus was born on May 31, 1941, in Albuquerque, New Mexico, USA. He is an American economist and currently holds the position of Sterling Professor of Economics at Yale University. Nordhaus resides in New Haven, Connecticut, along with his wife Barbara.

Education and Career

Nordhaus obtained his Bachelor's degree from Yale University in 1963 and became a member of the secret university society 'Skull and Bones'. In 1967, he earned a Ph.D. in Philosophy from the Massachusetts Institute of Technology (MIT). Nordhaus has been a faculty member at Yale since 1967 and served as the Vice-Provost from 1986 to 1988. From 1992 to 1993, he held the position of Vice President for Finance and Administration at the university, making it the shortest tenure in Yale's history.

Achievements and Contributions

Throughout his career, Nordhaus has received numerous accolades, including being elected as a fellow of the National Academy of Sciences (NAS) and the Brookings Panel on Economic Activity in 1972. He served as a member of the Council of Economic Advisers (CEA) during the Carter administration from 1977 to 1979. Nordhaus is also a foreign member of the Royal Swedish Academy of Engineering since 1999.

Authorship and Research

Nordhaus has authored several books, including the textbook "Economics: An Introductory Analysis," which he co-authored with Nobel laureate Paul Samuelson. This book has undergone 19 editions and has been translated into at least 17 languages. He has also written extensively on the topics of global warming, climate change, and the management of the global commons. One of his notable works is the book "Managing the Global Commons: The Economics of Climate Change and Warming the World: Economic Models of Global Warming," written in collaboration with Joseph Boyer.

Views on Climate Change

As a prominent economist working with climate change models, Nordhaus has criticized Nicholas Stern's famous report "Stern Review on the Economics of Climate Change" for using a low discount rate. Nordhaus emphasizes the importance of addressing environmental issues caused by climate change, including the accumulation of greenhouse gases and the destruction of the ozone layer. He acknowledges that although technology can mitigate some of the challenges posed by climate change, certain sectors of the economy remain highly dependent on the natural ecosystem and are therefore more susceptible to climate change impacts. Nordhaus recognizes the potential catastrophic consequences of climate change and the need to address uncertainty surrounding this issue.