"Flawed economic models mean climate crisis could crash global economy, experts warn"
@ProfSteveKeen has been pointing out the flaws in William Nordhaus fatally flawed DICE model for a very long time. They should now give that prize to Steve Keen.
1/🧵theguardian.com/environment/20…
I have been pointing out that the climate crisis will crash the global economy, for over 3 decades. However, I lacked @ProfSteveKeen economics expertise, to explain why, in economic terms. My analysis was derived from ecology and systems theory.
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It was only when I read @ProfSteveKeen systematic demolition of William Nordhaus' intellectually dishonest DICE model, that I realized why governments had been. misled to believe the impacts of climate change on our system, would be slight.
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I was horrified at the ecologically naive reasoning, Nordhaus had used to come to his conclusions. Nothing more clearly exposed why economists need educating on the basics of science, ecology and environmental science.
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Are Professor Richard Tol, and Bjorn Lomborg, now going to admit they were totally wrong, and have been misleading the world?
I mean everything they claimed, was totally mistaken.
5/profiles.sussex.ac.uk/p289812-richar…
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