"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?"

Sunday, September 9, 2007

Agreeing to work to agree to work to...

As Maribo (aka Simon Donner) points out, the forward momentum these days is well nigh infinitesimal. This is from a declaration of the Asian and Pacific nations (APEC) recently:
We agree to work to achieve a common understanding on a long-term aspirational global emissions reduction goal to pave the way for an effective post-2012 international arrangement.
In case you find that hard to parse, Simon elucidates nicely.

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