Why are so many economists so dismissive of attempts to do something about climate change? Adam Finkel, a regulatory law expert at the University of Pennsylvania, has a wonderful take on that question, in a comment posted at The Intersection, in response to a recent Newsweek column by Robert Samuelson. The money quote, so to speak:
[George F. Will], asked a legitimate half-question: "Are we sure the climate at this particular moment is exactly right, and that it must be preserved, no matter the cost?" If economists would ask, and help us answer, the more interesting half of the question--"Are we so sure the economy at this particular moment is exactly right, and that it must be preserved, no matter the cost?"--we might actually understand something about what we might lose, and gain, by taking the steps Samuelson says, with no foundation, are "too difficult."
Not for nothing do they call economics the dismal science. It was refreshed to read such wisdom the same morning I heard Bjorn Lomborg on NPR's Morning Edition extolling the virutes of "discounting" actions, and other such nonsense.
If you have nothing better to do, read Samuelson's straw-man rebuttal to the recent Newsweek feature on the climate change denial campaign first, then read Finkel's response.
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Once again, Robert Samuelson tries to argue that Social Security is DOOOMMMEEDDD!
Robert Samuelson has a penchant for willingly misinterpreting data. Time was, the newspaper bidness considered that to be a bad thing.
Named after economist Robert Samuelson, who, along with the Concord Coalition, is fighting the Glorious War on Social Security.
I like constancy. Knowing that, come spring, the forsythia will bloom is a good thing. But I don't like knowing that, when Newsweek columnist Robert Samuelson writes something about Social Security, it will be error-filled and disingenuous. Sadly, this too is a constant.
I'm starting to think they should call economics the dumbass science. New Orleans had a noticeable effect on the US economy. George Will should imagine the same thing in Miami, New York, Tokyo, London ... lots and lots of other cities and he'd have a pretty good reason why this climate is good and a warmer one is bad.
Then imagine the Midwest as a giant dust-bowl, (more) invasive species in Northern latitudes, and the rainforests on fire... where would we get cheap hardwoods for furniture at WorldMarket?
Or maybe Will has a failure of imagination?