Sunday, October 29, 2006

An economist talks sense

Economics, all too often, seems to consist of either statements of the blindingly obvious or pure fiction to justify the greed of the wealthy. At long last an important economist, Sir Nicholas Stern (I presume he's important, he's got a "Sir", but then again so has Mark Thatcher) has realised climate change could cost dearly - story.
Climate change could end up costing the global economy up to £3.68 trillion ($6.98 trillion) unless drastic action is taken, a key report is set to warn. Economist Sir Nicholas Stern will also warn that failure to act would turn 200 million people into refugees as their homes could by hit by drought or flood. An international plan to tackle climate change is needed to prevent a global recession, the UK review will say.

There are still climate change deniers out there, despite even President Bush making an uncomfortable retreat on the subject, as well as realising the War Against Iraq isn't going to be won any time soon.

Meantime, we have car factories churning out far more than can sell until the money men are forced to pull the plug on them, creating rustbelt cities like the one I live in, while windfarm operators are hitting a major supply problem for gear that they can't install anyway as they're blocked by nimby's who don't want the view of their second home in the sticks ruined. And, coincidentally, often just happen to be rather wealthy and hence influential. Their second homes also help to make property unaffordable for the locals, so they're hardly keeping their quaint villages pristine.

At the root of it is an idiocy that was taught in economics and quite possibly still is: that nature is a free resource.


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