Free Content The Economy of Esteem and Climate Change

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Abstract:

As a complement to existing institutional approaches to addressing climate change, it is worthwhile to think "outside the box" by considering innovative institutional solutions. The concept of an "economy of esteem" can provide the basis for a new approach that would seek to capitalize on leaders' desire for positive recognition by others rather than on material rewards or sanctions. Such a system could, through the creation of prizes or through a rating system, create competitive incentives to implement progressive climate change policies. Since it would require agreement on appropriate standards of behaviour, the setting of high standards, and an evaluation mechanism, such a system will not be easy to implement. Nevertheless, faced with a problem as serious as climate change we should be considering all potential strategies, rather than concentrating on only one path.

Document Type: Research Article

Publication date: February 1, 2010

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  • The St Antony's International Review (STAIR) is the only peer-reviewed journal of international affairs at the University of Oxford. Set up by graduate students of St Antony's College in 2005, the Review has carved out a distinctive niche as a cross-disciplinary outlet for research on the most pressing contemporary global issues, providing a forum in which emerging scholars can publish their work alongside established academics and policymakers. Past contributors include Robert O. Keohane, James N. Rosenau, and Alfred Stepan.
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