"System change is now inevitable. Either because we do something about it, or because we will be hit by climate change. '...

"We need to develop economic models that are fit for purpose. The current economic frameworks, the ones that dominate our governments, these frameworks... the current economic frameworks, the neoclassical, the market frameworks, can deal with small changes. It can tell you the difference, if a sock company puts up the price of socks, what the demand for socks will be. It cannot tell you about the sorts of system level changes we are talking about here. We would not use an understanding of laminar flow in fluid dynamics to understand turbulent flow. So why is it we are using marginal economics, small incremental change economics, to understand system level changes?"

Tuesday, June 19, 2007

The Worth of an Ice Sheet - Paul Baer

Let me call your attention to an elegant article by Paul Baer which does a better job than I have of calling the Stern Report methodologies into question and arguing for something other than economics to be steering our decisions. I have not heard of Mr Baer before but I look forward to hearing from him again.

1 comment:

Fergus said...

Baer, along with Tom Athanasiou, who may be known to you via Grist, are co-founders of EcoEquity. They have a website but no blog. Their interest is broad, but covers the ethical issues relating to CC, for example. They both frequently write good essays and comments and it's a shame these have to be searched for all over the place. Their overall stance on the issue of evaluation and response to CC based on economic measures is quite similar to your own, as I understand the two.