Saturday , April 26 2025
Home / Mike Norman Economics / The social costs of greenhouse gas emissions in health care are astounding — and we’ve been ignoring them completely — David Introcaso

The social costs of greenhouse gas emissions in health care are astounding — and we’ve been ignoring them completely — David Introcaso

Summary:
The social cost of greenhouse gas (GHG) emissions, considered the single most important measure in addressing the climate crisis, is generally defined as an estimate of societal damages, including health harms, resulting from unpaid or externalized GHG emissions. Researchers have been calculating this cost for several decades. Federal agencies began regularly incorporating the social cost of these emissions in 2008 — today, more than 80 federal regulations reflect its use. Despite the fact that GHG emissions are defined as the greatest threat to human health this century, the social cost of the health care industry’s emissions has somehow escaped the interest of the Department of Health and Human Services (HHS).Negative externality. "Privatize the gains, socialize the losses."While not

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Robert Vienneau writes Austrian Capital Theory And Triple-Switching In The Corn-Tractor Model

Mike Norman writes The Accursed Tariffs — NeilW

Mike Norman writes IRS has agreed to share migrants’ tax information with ICE

Mike Norman writes Trump’s “Liberation Day”: Another PR Gag, or Global Reorientation Turning Point? — Simplicius

The social cost of greenhouse gas (GHG) emissions, considered the single most important measure in addressing the climate crisis, is generally defined as an estimate of societal damages, including health harms, resulting from unpaid or externalized GHG emissions. Researchers have been calculating this cost for several decades. Federal agencies began regularly incorporating the social cost of these emissions in 2008 — today, more than 80 federal regulations reflect its use.

Despite the fact that GHG emissions are defined as the greatest threat to human health this century, the social cost of the health care industry’s emissions has somehow escaped the interest of the Department of Health and Human Services (HHS).

Negative externality. "Privatize the gains, socialize the losses."

While not MMT directly, although it concerns MMT as a matter of accounting, the article is illustrative of the consequences of ignoring true cost in setting the market price. The result is negative externality, the cost of which falls on society.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *