"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, October 21, 2007

Ms. Zhivago

The NYTimes has a story about the wildfire season in Southern California that features a particularly poignant vignette:
Palm trees bent in half as wind gusted to 60 to 65 mph, and dust and debris whipped around the area. Thick smoke obscured the sun.

Susan Nuttall sat in her black Mercedes in a cul-de-sac just off the Pacific Coast Highway, saying she had fled her condo just below the Pepperdine campus.

''We're all scared to death and we have nowhere to go,'' said Nuttall, 51, still wearing a bathrobe and holding her chihuahua.

1 comment:

Dano said...

I caught that too. Simple solution: go to a dear friend's house. Oh, wait: never mind.

Had she lived in Northern CA, the article would have been that much shorter.

Best,

D