"But We Must Do the Wrong Thing!": Understanding the "Economic" Arguments Against Dealing with Global Warming

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The market-based economics that I was brought upon had four principles:

  1. It is important to get the distribution of wealth right, or as right as you can, so that household willingness-to-pay properly represent social marginal values.
  2. It is important to get aggregate demand right--for the government to create the right amount of safe and of liquid assets to match shifting private sector demand and so make Say's Law true in practice if not in theory--so that the problems economic policy is dealing with are Harberger Triangles and not Okun Gaps.
  3. Then you can let the competitive market rip--as long, that is, as...
  4. You have also imposed the right Pigovian taxes and bounties to deal with externalities.

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On a Thousand Year Timescale the Human Race Really Is Just One Big Unhappy Family

470 years ago, in 1543, King Henry VIII Tudor of England married his sixth and last wife, Katherine Parr. He also allied with the Holy Roman Emperor Charles V Habsburg "of Ghent"; declared war on France; imposed the English administrative grid of counties, shires, boroughs, and House of Commons representatives on Wales; made yet another short-lived treaty with Scotland; burned the three Protestant Windsor Martyrs; and named the composer Thomas Tallis a Gentleman of the Chapel Royal. A busy king, for one so sick and mad.

Also in 1543 a woman named Katherine was born around 1543 in Hartfordshire--in a place called, simply, "West Mill".

Westmill hertfordshire england Google Maps

West of what it does not say.

Google Maps tells us that West Mill today has an establishment called The Tea Room, and another called the Sword Inn Hand--demonstrating that no pun is too weak for the Englishmen and Englishwomen of the Home Counties to think it absolutely hilarious. Google Maps tells us that West Mill stands west of the River Rib and the A-10 road beyond, partially shielded from the noise of passing cars taking the alternate route to the M-11 from London to Cambridge by Langley Wood and Norwich Grove.

Westmill hertfordshire england Google Maps

Zooming out reveals that West Mill lies three km north of the East Herts. Golf Club…

Westmill hertfordshire england Google Maps

and roughly 20 km west by northwest of Bishop's Stortford nd Stansted Mountfichet, which is better known today as the home of Stansted Airport, London's other other airport…

Westmill hertfordshire england Google Maps

and 50 km north of London.

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