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Innovation Snowballing and Climate Law
Liscow, Zachary Karpilow, Quentin
Liscow, Zachary
Karpilow, Quentin
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Abstract
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.