The 'single number' theory that helped nix climate change
Great analysis by @AnnPettifor of Nordhaus's 1994 paper "Expert Opinion on Climate Change" and ‘single number’ theory. (Nordhaus's paper is available here: https://sci-hub.se/10.2307/29775100)
For what it's worth, I wrote a post about the sheer craziness of Nordhaus's ideas a couple of years back: https://reddmonitor.substack.com/p/for-an-economics-that-takes-the-climate
Maybe it's not global warming to grapple with, and the bullet to bite is to create system change. Deal with an underlying belief system that has us in an exploitive dynamic instead of an altruistic one. Change our story and we change our world. So much moving the deck chairs otherwise. That's what I'm writing about, with ideas about things we can do.
As someone who learned from Prof Steve Keen just how existentially dangerous the willful misinformation perpetuated by Nordhaus et al can be, I imagine that many reading this topic for the first time are thinking 'it can't be that bad, can it?'
I have bad news - it's actually worse. The widespread acceptance of the shoddy 'thinking' of Nordhaus and his cohorts beggars rational belief.