Here is his *entire* reasoning for why we should commit trillions every year: The high-pitched argument for a parallel to WWII rests entirely on the following arguments (which are not good)pic.twitter.com/XGsEFNe1Le
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Stiglitz casually suggests that civilization and our lives are at risk. He has read too much Guardian This is simply untrue. If you read the UN Climate Panel reports, this is not what they say Climate change costs 2-4% of GDP, not the end of the worldpic.twitter.com/qkBUc4XcaE
By the end of the century, average person in world likely 5-10x richer, with African up to 34x, UN scenarios (SSPs) (Inconveniently, richest world is fossil-fuel world SSP5) 2-4% warming costs of incomes 500-1000% higher is NOT existential crisis https://www.sciencedirect.com/science/article/pii/S0959378016300681?via%3Dihub …pic.twitter.com/rbkYcTA5GH
Which is why the Nobel laureate in actual climate economics finds that, yes, we should do something, but not too much: Cost of nothing: 3% Smart policy, reduce temp a bit: 2.3% Go towards Stiglitz, Greta Thunberg etc: 4% and upwards https://www.aeaweb.org/articles?id=10.1257/pol.20170046 …pic.twitter.com/MkDyjC3cir
How the hell can a smart guy like Stiglitz write such unfounded drivel? Yes, climate a problem, yes, fix it smartly with moderate CO₂ tax and green innovation But let's stop the ridiculous alarmism asking for $trillions with little or no argument but fear https://www.project-syndicate.org/commentary/climate-change-emissions-rhetoric-reality-by-bjorn-lomborg-2019-05 …
Nordhouse is literally insane. Show me any serious climate scientist who thinks we won't have full societal breakdown if we go over 2 degrees. https://www.pnas.org/content/115/33/8252 …
And there is no Nobel for Econ. Nordhouse literally cites one study in 2009 and takes it totally out of context. Humans might survive 3 degrees, civilization sure won't.
So 10 degrees C warming would cost 6% of GDP??? Erm...
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