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“Emissions of carbon dioxide are largely by-products of productivity-- of industry, governments, and individuals producing things that we want more of (including heating, cooling, food, transport, hospital care, and so much more)..When countries promise to reduce their emissions, they are effectively promising to make all these things a touch more expensive. That acts as a slight brake on the economy, leading to a small reduction in growth… “This cost is the relevant social cost of climate policies-- the reduction in welfare that comes from each nation insisting on using energy that is slightly more costly and less reliable than fossil fuels.” -p. 112” — Bjorn Lomborg
Emissions of carbon dioxide are largely by-products of productivity-- of industry, governments, and individuals producing things that we want more of (including heating, cooling, food, transport, hospital care, and so much more)..When countries promise to reduce their emissions, they are effectively promising to make all these things a touch more expensive. That acts as a slight brake on the economy, leading to a small reduction in growth…
“This cost is the relevant social cost of climate policies-- the reduction in welfare that comes from each nation insisting on using energy that is slightly more costly and less reliable than fossil fuels.” -p. 112