He was, as my forthcoming book "How Economists Will Destroy Capitalism" explains in great detail. But Stern, though sincere, wasn't much better. He used Chris Hope's "PAGE" IAM which claimed a 11% fall in future GDP from a 7.4°C rise in global temperatures. So the same deluded economic "logic"as Nordhaus
Image from Prof. Steve Keen (@ProfSteveKeen)
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Looking forward to it Steve 👍
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I just saw the (early) consequences for California below, I think your $20 Trillion damages estimate for this El Nino is looking pretty safe, Professor. Usual apathy and denial in the comments. nitter.cf/accuweather/status/211…
AccuWeather (@accuweather) profile pictureAccuWeather
@accuweatherOct 28
Collapsing cliffs, buildings on the brink of collapse and roads swallowed by floodwaters. Powerful king tides are wreaking havoc along California's coast, threatening oceanfront homes and inundating coastal streets.
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Indeed. California could be in big trouble as the hyper El Nino continues to build and atmospheric rivers hammer home
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Not if your an oligarch
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✅😟
Image from Milvus💚❤️🍉💙#SaveOurNHS #NoNeoliberals #Leveson2 (@PeteWTMk2)
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Oxford University on #ClimateChange #PlantBased #Vegan #ClimateCrisis nytimes.com/2023/07/21/clima…
Image from HFrasier (@frasier_hal)
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*The poorest 3.5 BILLION typo
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Agreed. 20 years lost to bad discount rates. We pay for that delay now with every extreme weather bill. Stern was right!
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People would be better off digesting pieces like this after reading Daly's Ecological Economics and learning the basics behind a steady state economy. I'm a chapter director for CASSE and would encourage EVERYONE to see the prepped legislation we have ready.
Image from Tod Hale (@todhale)
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It is a good piece - seems to retain the assumption that you can miraculously decouple growth from energy consumption though.
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Agreed
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