The debate over climate change policy pits two competing visions of the future against each other. On the one hand are the “true believers,” who see in global warming an existential threat to humanity. They want to slow the rise in temperature as soon as possible, and as much as possible. Their policy prescriptions focus on the curtailment, or even elimination, of the use of fossil fuels, no matter the costs in terms of slower economic growth and increased poverty. The “skeptics,” on the other hand, view global warming as a potentially serious issue. It might cause problems in the future, but the impacts cannot be determined now with any degree of certainty. Instead of attempting to forestall future warming, they focus on policies that will build societal wealth as well as scientific and technological capacity by the most efficient means available. Given the existing state of technology, this includes the use of abundant fossil fuels to promote rapid economic growth. The goal of t...