First his attempts to assess the economic impacts of climate change were way too conservative—as he has since acknowledged—lending credibility to the idea that climate change impacts were something society could probably work around, and IMO helping to delay action.
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Second, putting the weight of economic authority behind carbon pricing as the only effective strategy for action, helped exclude bolder, and—it turns out—more realistic strategies for regulation, public planning and technological disruption.
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Nordhaus was a cornerstone of the academic foundation on which gradualism was built. That does not deserve praise, at a moment when we realize the terrible injustices gradualism has wrought.
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But, like I said, I don't really have time to comment more fully...
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This is Nordhaus of the 'indefinite economic growth will balance out the negative effects of partly mitigated climate change' model, am I right?
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@GhoshAmitav Pindyck on 'the use and misuse of climate models' captures the fundamental flaw in Nordhaus' reasoning#NobelPrize : http://web.mit.edu/rpindyck/www/Papers/MisuseClimateModelsREEP2017.pdf …https://twitter.com/70sBachchan/status/1049344854881226752 … -
Indeed! The math breaks down when the damage approaches infinity, but is infinitely discounted
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Nobel Times
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THERE WILL BE CARBON SHOCK THERE IS NO WAY AROUND IT
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