January 1, 2016 at 8:20 PM
Economists don’t forecast because they know, they forecast because they are asked
John K. Galbraith quoted by The Economist in Low and behold
September 20, 2014 at 4:54 PM
…according to Paul Krugman, and many others before him.
If you go and read the IMF working paper that Mr. Krugman links you discover that the optimal carbon prices they talk about would
. . . reduces CO2 emissions from the top twenty emitters by 13.5 percent (a 10.8 percent reduction in global emissions).
So actually 11% is cheap and easy – but doesn’t ‘fighting global warming’ require something like 40% to 70% cuts (or maybe 10% A YEAR)?
If it is so cheap and easy why no country actually runs on solar and wind? Israel for example: advanced, relatively small, with surely a big interest in not depending on fossil fuels? Or Taiwan? Or Switzerland? All in the clutches of the oil lobby and the Koch brothers?
The best we have are the likes of Germany – not exactly a shining example. Maybe it is due to the famous German disorganization, fecklessness and incompetence and everyone else can do much better?
July 7, 2013 at 10:30 AM
I think he was taken aback. (He might not have been. It can be hard to tell with engineers.)
Frances Woolley in 'The lunch problem'
April 28, 2013 at 5:15 PM
economists can . . . link almost any unexpected effect with any favorite cause. That is one reason they are held in lower esteem than engineers.
The Economist in ‘Climbing, stretching and stumbling’ – China section of the April 20th 2013 issue.