by Summary:
Economists' Climate Change Misconceptions Exposed
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Economists' Climate Change Misconceptions Exposed
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| Economists' Climate Change Misconceptions Exposed |
What do you think about this? Responding to the best comments.
I wonder, whether economists do understand the economic problem, which needs to be solved.
To me it looks like this:
The scientists did gave us a rest budget of CO2. It can be translated directly into the amount of fossil fuel, which releases this amount of CO2 when being burned.
So a market solution may look like this: imagine this rest budget is the amount of fossil fuel your country uses within 3 years (which is about to be a realistic value for a country like Germany). Your government can now auction this amount of energy to the local market and stop imports of fossil energy and the extraction of fossil energy in the country.
So now the question to the economists: how will the market behave and how to prevent the economy from collapsing?