economics of climate change
What the Convention Speeches Could Teach Economists About the Discount Rate
The economic formulas assume that people want their children and grandchildren to be as well off as they are, no better and no worse. But people actually want the future to be better than the present, and they’re willing to make sacrifices for this to happen.
CONTINUE READINGJeremy Bentham and Polar Bears
Over at the Reality-Based Community, my co-blogger James Wimberley rightfully takes to task a right-wing economist named Karl Smith for what Wimberley calls the dumbest blog post of 2011. Smith essentially seems to argue that it’s okay to cause hundreds of species to become extinct because it will increase aggregate wealth in the short run. In doing …
Continue reading “Jeremy Bentham and Polar Bears”
CONTINUE READINGNews on the Political Front
Both the NY Times and the Washington Post had lead stories on the politics of climate change legislation. The Post’s story centered on the increasing focus of the debate on the economic impact of climate legislation and on the difficulty of establishing the facts: In anticipation, groups on the left and the right — as …
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