LSE Press publish The Growth Story of the 21st Century by Professor Lord Nicholas Stern
Professor Lord Nicholas Stern, chair of the Chair of the Grantham Research Institute and the Global School of Sustainability has published The Growth Story of the 21st Century: The Economics and Opportunity of Climate Action, which is available to download now through LSE Press, the School's publisher of high-quality, open access research in the social sciences.
Lord Stern, who led the The Economics of Climate Change: The Stern Review for the UK Government in 2006, has carried out an assessment of the role of climate action in driving economic growth for The Growth Story of the 21st Century, challenging the outdated idea that we must choose between climate action and development and presenting a compelling case for a transformation that delivers both prosperity and a healthier planet.
Drawing on economics, finance, policy, politics and behavioural science, Nicholas Stern explores why this transformation is essential, what it entails, and how we can achieve it. He revisits the insights of the Stern Review two decades on and sets out a new research agenda for economics and the social sciences.
Lord Stern commented: “With the right policies and public and community action, this new path can deliver a much more attractive structure for growth and development, with rising living standards across all dimensions. It can deliver sustainable, resilient and inclusive development. But the next two decades are critical to success.
“The changes in economic structures and the required increase in investment and innovation are substantial and challenging. Some may argue that these changes are too difficult and ‘unrealistic’. However, the consequences of inaction far outweigh the challenges of realising the necessary investment and change needed to embark on the new path. Investment and innovation will be at the heart of the story of creating the new. That will in large measure be from the private sector. Creating the conditions and finance for that investment will be central to public action and policy.”
Praise for The Growth Story of the 21st Century:
"A comprehensive analysis of the economics of climate change from one of the world's most compelling advocates for action. At a critical moment and combining academic rigour with policy practicality, Nick Stern shows how innovation, investment and international cooperation can create a sustainable future for all." Baroness Minouche Shafik, House of Lords and former President, LSE
"Nick Stern does a fantastic job at explaining why and how climate action and economic growth can be reconciled, why delayed action is dangerous, but at the same time why a well-defined and non-punitive path exists towards a new growth model which delivers both, prosperity and improved health and well-being. This is an absolute must-read for all economic scholars and policy makers working on climate and on economic development." Philippe Aghion, Professor, Collège de France and recipient of the Nobel Prize in Economic Sciences
"Twenty years after the Stern Review (2006), Nick Stern offers an updated view of a sustainable development model for the 21st century, A must-read!" Thomas Piketty, author of Capital in the Twenty-First Century and Professor of Economics, School for Advanced Studies in the Social Sciences (EHESS)
“A masterful blend of economics, science and moral urgency that shows that climate action is not a cost but the greatest engine of prosperity of our times. Clear-eyed and pragmatic, it maps a realistic path from crisis to renewal through investment, innovation and international cooperation. A hopeful work that redefines growth for a sustainable age.” Peter Frankopan, Professor of Global History, Oxford University
This book is free to read and download via open access publishing here.
A public event to launch The Growth Story of the 21st Century was held on Thursday 5th November at LSE.