Findings at the frontier of economics suggest startling implications of an under-appreciatedf act about technological development: innovation builds on itself developing path dependencies in which past innovations attract similar, but more advanced, innovations. Innovation snowballs. The world economy needs to undergo a dramatic transformation to avoid the risk of catastrophic effects from climate change. Policy to encourage this transformation should be sensitive to innovation snowballing.
Date of Authorship for this Version
Liscow, Zachary and Karpilow, Quentin, "Innovation Snowballing and Climate Law" (2017). Faculty Scholarship Series. 5263.