"International cooperation on climate change has floundered. With mutual recrimination between rich and poor countries, the zero-sum arithmetic of a shrinking global carbon budget, and shifting economic and bargaining power from old CO2 emitters to new--what Aaditya Mattoo and Arvind Subramanian call the "narrative," "adding up," and "new world" problems--the wonder is not the current impasse but belief that progress might be possible at all. Each of these problems must be addressed in a radically different way. First, the old narrative of recrimination must give way to a narrative based on recognition of common interests. Second, leaders must shift the focus away from cutting emissions to generating technology. Third, the old "cash-for-cuts" approach must be abandoned for one that requires contributions from each country calibrated in magnitude and form to its current level of development and future prospects."--Publisher's website.