There have been some interesting events around the Stern report, and some good blog reports that I want to start taking note of here.
Brad DeLong discusses the Nordhaus review of Stern.
Felix Salmon attended a discussion with Stern, Jeff Sachs, and George Stiglitz at Columbia Univerisity.
The key issue seems to be whether we should invest relatively scarce capital now to avoid carbon emissions, or sequester them, or just let our richer descendents cope. I think the assumption that economic growth will keep making us richer and richer despite the dangers of climate change are irresponsible.
I think it’s obvious we should invest more now, and if we did more economic analysis we’d decide that the best way to motivate that investment with least over-complicated government programs and most efficient investment decisions would be a carbon tax. Talking taxes is forbidden in political circles, but the problem is such a crisis we have to confront it.