The Nobel Prize for Climate Catastrophe

Nordhaus did not provide business with a license to carry on. He much rather realized that you can’t tell people to kick themselves up and face poverty. Telling his constituents that they will be poorer but have virtue on their side is a loser message for any politician. Thats even true for undemocratic states as even dictators must mostly care for what their subjects think of them. Nordhaus is a realist. His conclusion is sound. Richer people will have more means to repair whatever damage has been done. Plus, we should first be reasonably see that there is damage we could potentially avoid.

Many people were thrilled when they heard that the Nobel Memorial Prize in Economics this year went to William Nordhaus of Yale University, a man known for his work on climate change.

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