by In this video Prof Ian Stewart explains how the fossil fuel companies managed to dupe some of the public into believing that climate change is not a problem, or is even occurring. They learnt the trick from the cigarette and pharmaceutical companies.First of all, back in the 60's, scientists started warning about climate change and politicians took it seriously. The fossil fuel companies got concerned about it, though, but many economists accepted the theory, but added that the increased carbon would be good for plants and so food harvests would be increased. They said this would be good for the agricultural business, even though they were not scientists, or understand anything about the climate. So you had scientists on one side and economists on the other arguing about what was good for
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
New Economics Foundation writes Is the Labour government delivering on its promises?
John Quiggin writes Dispensing with the US-centric financial system
New Economics Foundation writes Whose growth is it anyway?
Matias Vernengo writes What is heterodox economics?
First of all, back in the 60's, scientists started warning about climate change and politicians took it seriously. The fossil fuel companies got concerned about it, though, but many economists accepted the theory, but added that the increased carbon would be good for plants and so food harvests would be increased. They said this would be good for the agricultural business, even though they were not scientists, or understand anything about the climate. So you had scientists on one side and economists on the other arguing about what was good for the environment. What a joke?
Neoclassical economists know the price of everything and the value of nothing. This video demonstrates again the problem of mainstream economics.