#NeoclassicalEconomics is partly to blame for the serious global urban problem of air pollution. Incredibly, the CBA (cost-benefit-analysis) when applied to climate mitigation, excludes air pollution. Their reasoning is that air pollution needs its own instruments to solve it.
This is absurd because the CO2 and the air pollutants are joint products of combustion. Lead additives were also in the mix, when the oil refining industry knew perfectly well that lead poisoning seriously damages child development.
In fact the benefits of reducing non-CO2 are very substantial and compared to those from reducing CO2 emissions, immediate. In many localities reducing non-CO2 air pollution should be the primary priority for mitigation.
However in the #CBA (Cost Benefit Analysis) of climate change theoretically each pollutant should be reduced using an appropriate policy instrument. In the second #IPCC reports, 1996, the economics were dominated by neoclassical economists and the CBA approach.
And air pollution was called a secondary benefit, clearly a loaded term, and therefore was consequently seen by governments as a lesser problem. This way of thought persists with macroeconomic policymakers even when air pollution becomes an obvious concern.

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More from @terry_barker21

Jan 8
What utter nonsense. I’m an economist, who has worked on the whys, hows, whens & wheres of economic growth both in the UK, its regions & countries, the EU & globally. I’ve been researching into economic growth since I joined the CGP in 1965 under Sir Richard Stone.
Economic growth requires strong government & regulation for the economy to function efficiently. It is obvious that banks, companies & people, all have to be regulated or we shall anarchy. Or the state of the union that we have observed ever since you @Tories came to power.
Economic growth requires: stable govt, a vision of community well being, a consensus 5-year plan, high share on investment in GDP, public provision of networked and safety services (water, energy, transport, health, security, govt). You have failed. A loser.
Read 4 tweets
Jan 8
This seems a rather absurd discussion - not really a debate, but a venting of idealistic dreams. I address the critics of the MPs. Open your collective eyes and look at yourselves being limited in vision & thought. Marxists? Socialists? Demagogs? Leftie agitators?
Those criticising MPS need to look around at the food banks, the desperate looks of the homeless on the streets & the state of the Government, which is little short of hopeless incompetence. At the very least, @Keir_Starmer is a decent person, uncorrupted, a leader & a lawyer.
The other lot have some or none of these attributes. We’ve had journalists, PR experts of dubious quality, & Etonian elite cliques running the country, throwing each other the Great Offices of State like footballs to each other. Shameful.
Read 6 tweets
Jan 8
Here (your tweet) is the key to your thesis. How do the democracies of the world prevent the right to “free speech” from destroying the very democracy that allows its citizens their freedom to do so? The answer is obvious: to exist, democracies must restrict some freedoms.
Democracies must protect themselves against their enemies. Otherwise malign, self-interested groups will conspire to take power to enrich themselves. It’s happening right now with the bankers and with the Knit-Poo-inspired right-wing groups everywhere, lusting after money.
The love of money is the root of all evil. Democracies are hanging on a thread, as Knit-Poo continues his cyber war on the West, no holds barred. Webs of invisible shite have been woven around money-lusting politicians, some amateur to a fault.
Read 10 tweets
Jan 7
Neoclassical economics makes the normally hidden assumption that there is a benign dictator running the show, so that maximum utility is achieved in the economy. The behaviourist branch of this mainstream economic theory adds irrational behaviour, namely slow & fast thinking.
The benign dictator is assumed to be rational, and his subjects are assumed to be identical representative agents, with some irrational behaviours. The model is neutral about democracy because there is no democracy if there is a dictator. In other words, the model is bonkers.
Neoclassical economics is one of the most pernicious and malign pseudosciences.
Read 4 tweets
Dec 29, 2022
They were having fun. Just out of a pub I suspect. It’s Christmas! But not for me then. I’ve got over it. Moved on as we say.
I wish they had moved on and not trailed me home, having fun at my expense. In the dark.
Looking back at that and other incidents, I realised that we have become a rather lawless society. People seem to care much less for each other than they did during or after the last war, and into the 1970s.
Read 9 tweets
Dec 29, 2022
I have an e-bike for heavy shopping and I was coming home yesterday with a heavy load. It was dark, wet, & windy. At a road crossing, two young people illegally on a weird tiny pedi electric bike, without number plates, started mocking me.
Then they started weaving about the cycle path laughing & giggling, following me home bullying me and intimidating me, hoping I would fall off my bike. I got home safely but they were at my house and frightened me. They didn’t care about the law.
However the bullying was minor compared to what happened on Tuesday. I had a big load of grocery shopping after Christmas coming from the big Tesco on Newmarket Road. I took the easy way home by road.
Read 9 tweets

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