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Five Times Faster from Part II - Economics
Published online by Cambridge University Press: 24 October 2024
Estimates of the economic costs of climate change rely on guesswork in the face of huge uncertainties, and arbitrary judgements about what is important. The models can produce any number their creators want them to; and typically, they trivialise the risks. Despite being described as ‘worse than useless’ by leading academics, economic analysis of this kind has been credited with a Nobel Prize, and it continues to inform government policy.
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