Climate Risk Economics
@climateeconomics.bsky.social did:plc:vw2faru5bxtourzscn5lteut
Science, analysis, and news around climate change's impacts on the economy, focusing on growth, inflation, investment, companies, consumers #ClimateRisk #ClimateImpacts
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Zusammenfassung
Climate Risk Economics (@climateeconomics.bsky.social) ist seit 25 Oktober 2024 auf Bluesky. Das Konto hat 2.456 Follower, folgt 1.158 Konten und hat 1.990 Posts veröffentlicht.
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The one quote I remember from William Nordhaus, the last sentence of a presentation he gave: "And anyway, all the consequences of global warming are reversible."
Post anzeigenIndeed, I was just pointing to a potential source of the misstatement (2°C being optimal at a particular point in time rather than always). The same chapter does say that waiting 10 years before implementing the (then) optimal response has negligible welfare cost, which can also be misinterpreted...
Post anzeigen... to argue that the way Nordhaus evaluated tradeoffs between mitigation and economic growth and how they interacted to plot a welfare maximum, or that the implied mitigation was too slow and not deep enough (although always *massively* more than US politics ever delivered🤷) - those are fair game.
Post anzeigenSo William Nordhaus died? Good riddance. A man who never met a second or third-order exponential effect that couldn't be reduced to a smooth linear curve so he could get his head around it. And got honoured by the 'Smooth Linear Curves Are All That Exists, Trusts Us We're Economists' Society for it.
Post anzeigenPrecisely. (It's about William Nordhaus)
Post anzeigen
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