Saturday, June 7, 2008

Global Warming? Solve the real issues first.

Scarcity is a core economic concept, though politicians and even many economists prefer to ignore it. There isn't an unlimited amount of money to be spent on every problem, so choices have to be made.

...unless you are a liberal, then you just keep sacking those that take risks, create wealth and jobs (they call them The Rich) by raising taxes and spending more.

The question addressed by the Copenhagen Consensus Center is what investments would do the most good for the most people. The center's blue-ribbon panel of economists, including five Nobel laureates, weighed more than 40 proposals to improve the world by spending a total of $75 billion over the next four years.

What would do the most good most economically? Supplements of vitamin A and zinc for malnourished children.

Number two? A successful outcome to the Doha Round of global free-trade talks. (Someone please tell Barack Obama.)

Wha..wha..what about the crisis, the urgent crisis, the Nobel prize-winning crisis that is Man-Made Global Warming/Cooling?!!!!

30th on the list.

As Mr. Lomborg recently explained, the costs of mitigating climate change would be enormous for what are highly speculative benefits. He prefers research on new technologies, rather than a global cap-and-trade regime that would raise energy prices and thus reduce overall economic growth. Meanwhile, societies that are wealthier due to free trade will be better able to cope with the consequences of warming, if it occurs.

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