 Share
|
« Previous Daily-dish | Next Daily-dish » |
Email
Print
|
A $2000 Trillion Bet
ByManzi responds to his critics:
Numerous very intelligent bloggers have raised the valid point that global GDP, or any measure of money income, is not a comprehensive measure of human well-being. I’ll have a future post on this topic. But it is striking that, at least when looked at in terms of the economy, we should expect the benefits of emissions mitigation to range from losing money (my view) to a positive gain of 0.17%, assuming perfection.
The problem is that we’re putting a global economy with present value of $2,000 trillion at risk to go after less than $4 trillion of expected present value of benefit. The desire to regulate the global economy to avoid the risk of catastrophic climate change is not a one-sided bet.
--PA
