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Comparing Financial & Environmental Chaos

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Martin Wolf made an interesting comparison when he asked why we aren't doing more to stem carbon emissions,

What makes the inaction more remarkable is that we have been hearing so much hysteria about the dire consequences of piling up a big burden of public debt on our children and grandchildren. But all that is being bequeathed is financial claims of some people on other people. If the worst comes to the worst, a default will occur. Some people will be unhappy. But life will go on. Bequeathing a planet in climatic chaos is a rather bigger concern. There is nowhere else for people to go and no way to reset the planet’s climate system. If we are to take a prudential view of public finances, we should surely take a prudential view of something irreversible and much costlier.

If you want to read the full article it's here,

http://www.ft.com/cms/s/0/c926f6e8-bbf9-11e2-a4b4-00144feab7de.html?siteedition=uk#axzz2jbcprXpp

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Climate change is/was just a fad- money is real.

Or should that be the other way round? :lol:

If the climate could be privatized we would ok- there would be a powerful lobby to defend it- but since it's hard to monetize the climate directly it's always going to lose out in a world where the term 'value' is always synonymous with monetary worth.

To the neo liberal mindset if you can't buy it, sell it or leverage it- it's worthless.

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Martin Wolf made an interesting comparison when he asked why we aren't doing more to stem carbon emissions,

Yes...

People talk about green policies as if the government had been taken over by a bunch of beardy sandle-wearing treehuggers.

I'd point them to the bank bailouts - several dozen billion (minimum) in direct costs and hundreds of billions in loan guarantees. THAT is what it looks like when a special interest group owns the government. Not a few wind turbines and solar roofs dotted around.

Of course, if used in a decarbonisation plan, the same amount of cash and loan guarantees would allow UK emissions to be reduced to zero in a couple of decades, energy imports ended for the foreseeable future, cheap energy guaranteed indefinitely and the technology developed to export to other countries, so that they could do the same.

But making sure that the banks don't face consequences for failure is more important. Obviously.

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