Climate Change
Discount Rates and Middle-Class Stagnation
Discount rates are how economists measure the importance of the future versus the present. If the discount rate is low, we care a lot about the future; the reverse is true if the rate is high. It turns out that one of the key factors driving the discount rate — maybe the key factor — is …
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CONTINUE READINGWhy it’s important that we know that we’re at 400 ppm of CO2
A major (and unfortunate) milestone has been crossed this past week. Measurements of atmospheric levels of carbon dioxide passed 400 parts per million, the highest in millions of years. Others have commented on how worrying this milestone is for the planet. But what I want to focus on here is how important it is that …
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CONTINUE READINGThe Insurance Industry Helps Us to Adapt to Climate Change
The NY Times reports that insurance rates are rising in the aftermath of Hurricane Sandy for coastal communities. As I argued back in 2010 in my Climatopolis book, such “price gouging” is good! If insurance markets are competitive, then the rates that insurance companies charge households who seek home insurance will reflect the best …
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CONTINUE READINGNiall Ferguson, Climate Smear Artist
Big kerfluffle over the weekend concerning remarks by right-wing Harvard Professor Niall Ferguson, who claimed that Keynesian economics is not concerned about the future because Keynes himself was gay and didn’t have children. Now, not only is this bigoted, but it is untrue on its own terms: Keynes was married, he was childless because his …
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CONTINUE READINGEnvironmental Justice, Metrics & California’s San Joaquin Valley
This week the California Environmental Protection Agency issued a disturbing but worthwhile report on environmental justice issues in California. That report confirms what many environmental justice advocates and state residents already assumed: that the San Joaquin Valley is–far and away–the most environmentally-challenged region of the state. According to the CalEPA press release accompanying the report, …
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CONTINUE READINGEarth Day perspectives
I really like this post over at Slate giving 15 fun facts about the Earth on Earth Day. My favorite is number 14: “If you took all the water on Earth and collected it into a single drop, it would be just less than 1,400 kilometers (860 miles) across.” This comes with a neat visual: …
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CONTINUE READINGDear Washington Post: Chesapeake Bay *is* unbalanced
An article in the Washington Post yesterday ran with the headline, “Crabs, supersized by carbon pollution, may upset Chesapeake’s balance.” Not to nitpick, but Chesapeake Bay is unbalanced and has been that way for well over a century. The article references some interesting research from the University of North Carolina that looks at the effects …
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CONTINUE READINGPoll Shows Vast Majority of Americans Favor Sea-Level Rise Adaptation. Now, Time to Start Planning.
Stanford University’s Woods Institute for the Environment and the Center for Ocean Solutions recently released the results of a survey finding that the majority of Americans favor proactive sea-level rise adaptation actions. According to the survey results (margin of error: +/- 4.9% at the 95 percent confidence level), 82 percent of the Americans surveyed said …
CONTINUE READINGThe Case for Carbon Austerity
Many people are worried that a high national debt imposes a burden on future generations, though not all economists agree. But carbon emissions are also a burden on later generations — the CO2 will stay in the atmosphere many decades to come, causing damaging climate change. If we’re worried about burdens on later generations, is …
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CONTINUE READINGMajor Progress on Climate Legislation
Well, I certainly didn’t expect this one: Senator James Inhofe (R-OK) announced today that is reconsidering his long-held position that climate change represents “the greatest hoax ever perpetrated on the American people.” Oklahoma is currently suffering under the worst drought since the Dust Bowl, and thousands of farmers across the state have gone bankrupt. “The …
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