By Paul Homewood

A rather curious report from the GWPF:

Author Tim Worstall says that Swiss Re’s claim climate change would reduce world GDP by 8.5% per year is highly deceptive, because it fails to take account of economic growth.
The economy in 2050 is likely to be much bigger as a result of economic growth and smaller as a result of any damage due to climate change that may occur. In other words, the world our children will experience will be the nett result of these two effects.

But as Worstall explains, Swiss Re have simply left out one half of the equation:

“They have simply ignored the benefits of economic growth and only discuss the costs of climate change impacts. In fact, the whole paper has been written in a way that obscures the fact that they have used this trick.”

GWPF director, Dr Benny Peiser said:

“Once again, we see the public being misled by academic trickery and half truths. This is no longer surprising, but it is still shameful behaviour by Swiss Re and Oxfam.”

Tim Worstall: The holes in Swiss Re’s climate report (pdf)

I say curious, because the author readily accepts that climate change will be damaging economically. His report actually states:

I would certainly dispute that assumption, particularly at the lower amounts of warming. There is strong evidence after all that the warming since the 19thC has been economically beneficial. It is important that we don’t allow Swiss Re to get away with such ludicrous and unscientific claims.

There is also a danger that Worstall’s argument could be used to counter complaints about the cost of climate policies, which could be offset by economic growth.

I will try to post my own thoughts later today

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June 9, 2021