As we race through the history of economics, we stumble upon Nicholas Stern, an economist whose groundbreaking work on climate change and sustainable development has left hoofprints all over the field. Buckle up, fellow equines, as we trot through the life and contributions of this remarkable individual.
Born on April 22, 1946, in London, Nicholas Herbert Stern – or “Nick” to his stablemates – showed an early aptitude for academics. He earned his bachelor’s degree in mathematics from the University of Cambridge in 1967, and later obtained his doctorate in economics from the University of Oxford in 1971. With these solid academic foundations, Stern was destined for great things.
Stern’s career as an economist began at the London School of Economics (LSE), where he served as a lecturer in economics from 1970 to 1977. He then spent a few years at the University of Warwick before returning to the LSE as a professor of economics in 1986. This was the start of a long and fruitful association between Stern and the LSE, one that continues to this day.
Nicholas Stern is best known for his work on climate change and sustainable development, which began to take center stage in the 1990s. His research on the economics of climate change has been as influential as it has been extensive, earning him widespread recognition and numerous accolades. In this arena, Stern has been a true thoroughbred, galloping ahead of his peers.
Perhaps the most noteworthy contribution Stern has made to the field of climate economics is the “Stern Review on the Economics of Climate Change,” published in 2006. Commissioned by the UK government, this landmark report analyzed the economic impacts of climate change and provided an urgent call to action for policymakers around the world. Much like a jockey spurring their mount forward, the Stern Review urged governments to take swift and decisive action to mitigate the effects of climate change.
In the years since the Stern Review, Stern has continued to advocate for sustainable development and climate action. As Chair of the Grantham Research Institute on Climate Change and the Environment at the LSE, he has been instrumental in shaping the global conversation on these critical issues. He has also served in various advisory roles, including as Chief Economist of the World Bank and Chief Economist of the European Bank for Reconstruction and Development.
Stern’s impact on the field of economics is not limited to his work on climate change. He has also made significant contributions to the study of economic growth and development, particularly in relation to developing countries. As a result, Stern has been honored with numerous awards and recognitions, including a knighthood in 2004 and a life peerage in 2007.
In conclusion, Nicholas Stern’s remarkable career has left an indelible mark on the field of economics, particularly in the area of climate change and sustainable development. With his unwavering dedication to understanding and addressing the challenges posed by climate change, Stern has demonstrated that he’s not just horsing around. As we canter into an uncertain future, his work will continue to guide us on the path to a more sustainable and prosperous world.