Headline November 06 2019/ '' 'CLIMATE -STUDENTS- COSTING' ''



ZILLI - JUNIPER - ZANIE - CAN you all have a private word, and revisit and dust up the best research for some 'Grand Global Shines and Protests', say, for next year?

See if we could loop the StarSHINE Greta Thurnberg, and these God's Little Angels :
Heroes Maynah, Maria, Harem, Hannyia, Merium and Eden?

ECONOMISTS, greatly underestimate the price tag on harsher weather and higher seas. Why is that?

The urgency of climate effect means we cannot wait around for the research to come in.

FOR SOME TIME NOW it has been clear that the effects of climate change are appearing faster than scientists anticipated.

Now it turns out that there is another form of underestimation as bad or worse than the scientific one : the underestimating by economists of the costs.

The result of the failure by economists is that the world leaders understand neither the magnitude of the risks to lives and livelihoods, nor the urgency of action.

How and why this has occurred is explained in a recent report by scientists and economists at the  London School of Economics and Political Science, the Potsdam Institute for Climate Impact Research and the Earth Institute at Columbia University.

One reason is obvious : Since climate scientists have been underestimating the rate of climate change and the severity of its effects, then economists will necessarily underestimate their costs.

But it's worse than that. A set of assumptions and practices in economics has led economists both to underestimate the economic impact of many climate risks and to miss some of them entirely.

That is a problem because, as the report notes, these ''missing risks'' could have ''drastic and potentially catastrophic impacts on citizens, communities and companies.''

One problem involves the nature of risk in a climate-altered world. Right now, carbon dioxide, is at its highest concentration in the atmosphere in three million years [and still climbing].

The last time the levels were this high, the world was about 5 degrees Fahrenheit warmer and sea level 32 to 65 feet higher. Humans have no experience weathering sustained conditions of this type.

Typically, our estimates of the value of cost of something, whether it is a pair of shoes, a loaf of   bread or the impact of a hurricane are based on experience.

Statisticians calls this ''stationarity''. But when conditions change so much that experience is no longer a reliable guide to the future - when stationarity no longer  applies - then estimates become more and more uncertain.

HYDROLOGISTS have recognized for some time that climate has undermined stationarity in water management - indeed, they have declared that stationarity is dead.

But economists have by large not recognised that this applies to climate effects across the board.

They approach climate damages as minor perturbations around an underlying path of economic growth, and take little account of fundamental destruction that we might be facing because it is so outside humanity's experience.

The Honor and Serving of the Latest Global Operational Research on Climate Change, Costing, and Destruction, continues. The World Students Society thanks authors, Naomi Oreskes and Nicolas Stern.

With respectful dedication, to Leaders, Grandparents, Parents, Students, Professors and Teachers of the world.

See Ya all on Facebook, prepare and register for Great Global Elections, The World Students Society : wssciw.blogspot.com and Twitter - !E-WOW! - the Ecosystem 2011:

''' Economists - Entrepreneurs '''

Good Night and God Bless

SAM Daily Times - the Voice of the Voiceless


Post a Comment

Grace A Comment!