An article in this month’s’ NC Economist, by
Andrew G. Keeler, Program Head for Public Policy and Coastal Sustainability at the UNC Coastal Studies Institute and Professor of Economics at East Carolina University
Sea level rise will likely significantly alter the underlying costs and benefits of living and working in coastal areas, and will do so in a difficult-to-predict and highly variable way. Adaptive responses will come from individual and collective responses to changing incentives. The public sector will be a key determinant of these incentives through its choices about infrastructure investments, risk management policies, and programs to compensate citizens for unfortunate outcomes. This review suggests that public sector policies are essential, but also difficult to craft in an environment of uncertainty and complex dynamic relationships between public and private decisions.