This is CBS Eye on the World. Here's John Batchelor.

It's a great pleasure to welcome my colleague of many years, Terry Anderson, of the Hoover Institution.

But now this is the author, Terry Anderson. The new book is Adapt and Be Adept.

This is a story of market responses to climate change all around us.

The chapters here go in many different directions about politics, about economics, about the physics of energy.

And also one lovely chapter about

an Alaska native villages, one in particular on the Kauukukuk River, which is the tributary

of the Yukon River, where adaption is automatic. And yet, people must have control, authority. They must have input for their

adaption. It can't be imposed from outside. Terry, a very good evening to you, and it's a pleasure to

speak about a subject that's all around us. You have a witticism in here that I'm going to call up right

now about climate change. It's Pascal's Wager.

Pascal's Wager had to do in the original with, suppose there's a God, suppose there's not a God.

What are your choices? And as I recall the way the wager goes, I'm going to believe in God because

if I do, there'll be heaven and eternity.

If I don't, I'll give up some candy and I'll not be a rascal on good days.

But that's not losing a whole lot given what I'll gain if there is a God.

Now, if I apply that to climate change, suppose there's climate change and suppose there's not.

Why not proceed as if there is? Because then, of course, I will be prepared for the changes

that are coming. Have I stated Pascal's wager correctly in the analogy? Good evening to you, Terry.

And good evening to you, John. I think you've stated it very well. And in fact, just what you said, if climate change is real, we can tilt at windmills, no pun, well, maybe it was a pun intended. Or we can be prepared in other ways as the people, the Alaska natives on the river, you mentioned,

are prepared if they have the ability to adapt, the wherewithal to adapt, and the information

at hand to encourage them to adapt. And those people who live in Alaska on that river

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