Saturday, 7 March 2009

A 'SUCCESS'-story of the free market: manmade climate change...

 
 Nicholas Stern has famous remarked that 'climate change is the greatest market failure the world has ever seen'. But this increasingly-popular dictum is quite mistaken.
 Dangerous climate change is a result of markets working well: because, when markets work well, what they do is ruthlessly exclude 'externalities'. The brutality, 'efficiency' and amorality of the market mechanism is precisely that: sell what can be sold, and grab for free whatever is 'common' to all...
 Manmade climate change is the greatest 'success' of the untrammelled free market the world has ever seen. So much the worse, obviously, for the free market...
 We need a new paradigm, if we are to save our common future. A judicious mix of strong government intervention and regulation, rationing (e.g. of carbon), and localisation, is the way forward - not the neoliberal nonsense peddled still by Stern and so many others.
 Without such a new green economics, the climate conundrum will certainly become a climate catastrophe.

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1. 2. 3. Rupert's Read: A 'SUCCESS'-story of the free market: manmade climate change... 4. 12. 15. 16. 17. 18. 19. 20. 23. 24.

25. 26. A 'SUCCESS'-story of the free market: manmade climate change... 27. 28.

29.
 
 Nicholas Stern has famous remarked that 'climate change is the greatest market failure the world has ever seen'. But this increasingly-popular dictum is quite mistaken.
 Dangerous climate change is a result of markets working well: because, when markets work well, what they do is ruthlessly exclude 'externalities'. The brutality, 'efficiency' and amorality of the market mechanism is precisely that: sell what can be sold, and grab for free whatever is 'common' to all...
 Manmade climate change is the greatest 'success' of the untrammelled free market the world has ever seen. So much the worse, obviously, for the free market...
 We need a new paradigm, if we are to save our common future. A judicious mix of strong government intervention and regulation, rationing (e.g. of carbon), and localisation, is the way forward - not the neoliberal nonsense peddled still by Stern and so many others.
 Without such a new green economics, the climate conundrum will certainly become a climate catastrophe.
30. 31. 32.