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Treading Thin Air

Geoff Mann: Catastrophic Thinking, 7 September 2023

... on a practice planet to study their effects. When it comes to human welfare, as the economist Martin Weitzman once put it, attempts to anticipate the impact of climate change, especially beyond the short-term, face an ‘immense cascading of huge uncertainties’ of ‘truly stupendous’ scale and scope:There exists here a very long chain of tenuous ...

A Tide of Horseshit

David Runciman: Climate Change Impasse, 24 September 2015

Why Are We Waiting? The Logic, Urgency and Promise of Tackling Climate Change 
by Nicholas Stern.
MIT, 406 pp., £19.95, May 2015, 978 0 262 02918 6
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Natural Capital: Valuing the Planet 
by Dieter Helm.
Yale, 278 pp., £20, May 2015, 978 0 300 21098 9
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Climate Shock: The Economic Consequences of a Hotter Planet 
by Gernot Wagner and Martin Weitzman.
Princeton, 250 pp., £19.95, February 2015, 978 0 691 15947 8
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... at all. Even Hayek never countenanced that. In Climate Shock, the economists Gernot Wagner and Martin Weitzman give a sense of these risks in their discussion of what they call the ‘free driver problem’. Most of us are familiar with the ‘free rider problem’: the idea that collective action can be destabilised by lazy or unscrupulous people who ...

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