William Nordhaus

Now...

William Nordhaus looked at that, and all economists can see is the current system.

They don't see through time.

So they saw the pattern across space.

They sincerely believe that what happens across space can be used as a proxy of what happens through time.

They are basically expecting trivial effects until 2300. you have to go that far in the future to get any, and continue the current course in terms of grazing temperatures as well, before they get any estimates of serious damages.

So for example, William Nordhaus, who's got the Nobel Prize, bullshit prize for his work on climate change, he said that three degrees of warming by 2100 will reduce GDP in 2100 by I think 3.12%.

He was very precise, 3.12%.

And therefore, there's nothing to worry about from the three degrees of global warming.

The first time that an economist attempted to give what they called an empirical estimate of the impact of climate change, this was William Nordhaus in 1991.

He got a Nobel Prize for some of that work, I understand.

Yeah, the Nobel Prizes are put there for defending neoclassical economics.

So, you know, it, it's this very complicated picture where we've sy- systematically underestimated.

And I, I have to say I do get a little bit angry and upset when I do hear about e- economists talk about this, um, because, um, we've had very famous economists like, uh, William Nordhaus, who won, um, the, uh, economics, uh, Nobel Prize, uh, for climate economics, saying that, uh, it's not gonna be such a big deal because, uh, agriculture is the most exposed sector, and it only makes up 3% of GDP, so therefore economic impact is gonna be low.

Of course, the rest of the economy is based around that, and I think the g- biggest central, um, failure mode of society, or one of, one of them, I think there's probably several others in climate change, but one of the largest failure modes is cost of living increases.

And we know that climate change is driving already in food price inflation.

I hope to finish it by the end of this month, and it'll be- hopefully be out by early next year.

That's called How Capitalism- How, How Economists Will Destroy Capitalism, and it's really saying that a false theory of economics is what's led us into many of the crises we're experiencing, including what we're gonna get with global warming because mainstream economists like William Nordhaus have completely misunder- misunderstood what it means and have then encouraged us into a false sense of security.

So that's the main focus there.

Then I have a Substack and a Patreon site.