Tim Worstall writes at Adam Smith The Observer is More Than Usually Confused on the Subject of Climate Change. Excerpts in italics with my bolds.
The costs of doing something about climate change versus the costs of not is a subject that has been well hashed over in the Stern Review and the work of William Nordhaus. No point in revisiting all of that here. However, The Observer manages to get itself more than usually confused over the subject in the business editorial.
The idea is that we should strive ahead to be a zero carbon society and economy because we’ll create vast profits from having done so.
But the spin-off economic benefits of being in the vanguard of decarbonisation are potentially enormous. The countries that move first to develop green technologies will reap monopoly profits until such time as their rivals catch up.
That’s not quite how…
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