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That’s the headline on my latest piece in the Guardian, and sums up the content pretty accurately. A couple of key paras over the fold The people of Townsville have seen announcement after announcement of the project’s imminent start, beginning as long ago as 2015. In June 2017, the regional headquarters was opened with a statement of “final approval” and a promise to start pre-construction works. It was even said that Gautam Adani would be there to cut the ribbon. Sadly,...

I got some questions about Adani from a friend, which I answered by email. I thought it might be useful to share the exchange The sources I use primarily are:https://endcoal.org/category/news/coalwire/andhttp://ieefa.org/In response to questions 1.       Whilst China and India had plans to build numerous coal fire power stations, my understanding is that many/most of those projects have not proceeded.  The media often refer to planned CFFS when in fact that is...

from Ikonoclast When we are dealing with physical phenomena, the fundamental laws of the cosmos are independent of human understanding or modelling of them. No matter what you or I or any human thinks of the Laws of Thermodynamics or even whether we are ignorant of them, the fundamental phenomena follow a course which can be well modeled by those laws when those laws are mathematicized to permit accurate descriptions and empirically verifiable predictions. However, when it comes to...

from Lars Syll Spending the morning going through Francine Blau’s and Lawrence Kahn’s JEL survey of modern research on the gender wage gap, yours truly was struck almost immediately how little that research really has accomplished in terms of explaining gender wage discrimination. With all the heavy regression and econometric alchemy used, wage discrimination is somehow more or less conjured away … Trying to reduce the risk of having established only ‘spurious relations’ when dealing with...

from Peter Radford What am I supposed to make of the Scheidel book? Having waded through it I emerge with a grim pessimism — certainly more than when I started. The basic thesis, as I mentioned a couple of weeks ago, is that periods of relatively greater equality are rare in history and that they ebb away soon after the re-establishment of elite control over the distribution of national resources.  Worse, the relative equality that is then undone was only the result of some disastrous...

from Peter Söderbaum  Present accounting systems at the national and organizational level are closely connected with neoclassical economics. The main parameter in national accounting is Gross Domestic Product (GDP). Other macroeconomic indicators are consumption, investments, exports, imports. These variables are all monetary in kind. But as has (hopefully) been made clear, present threats to mankind are as much, if not more, of a non-monetary kind. Today “sustainable development” has...

from Lars Syll Logic, n. The art of thinking and reasoning in strict accordance with the limitations and incapacities of the human misunderstanding. The basic of logic is the syllogism, consisting of a major and a minor premise and a conclusion – thus: Major Premise: Sixty men can do a piece of work sixty times as quickly as one man. Minor Premise: One man can dig a post-hole in sixty seconds; Therefore- Conclusion: Sixty men can dig a post-hole in one second. This may be called syllogism...

from Ken Zimmerman Inequality in human societies has always existed. When it become extreme (that point varies by society and historical circumstances) the society either collapses completely (e.g., revolution, war, failure of basic services, famine) or undergoes changes in its basic framework. Ancient Rome, for example, nearly collapsed when corruption in government and economics (particularly appalling poverty) combined with refusal of its citizens (particularly the wealthy) to put...

from Asad Zaman Global experience shows that market economies create massive inequalities, enriching the top one per cent, while leaving the bottom of the population far behind. One key to prosperity is to provide productive jobs for all who would like to participate in the production process. Unfortu­nately, contemporary macroeconomics, which was blind to the possibility of the global financial crisis, is not equipped with the ideas and tools required to create full employment....