Paria sans portefeuilleAug 14, 2023

"#MainstreamEconomics has consistently understated the economic damage of #ClimateChange, according to two recent reports. [..]

"The models are relied upon by investors, politicians, central bank governors and influential bodies like the #IntergovernmentalPanelOnClimateChange (#IPCC)."

#MainstreamEconomists accused of playing down #climate threat

https://climatechangenews.com/2023/08/08/economics-climate-threat-models/

#EconomicsOfClimateChange #NeoclassicalEconomics #GlobalWarming #Nordhaus

Mainstream economists accused of playing down climate threat

Mainstream economists' models overlooked tipping points, rainfall changes, and indoor work, leading to an underestimate of the climate threat.

Climate Home News
Show threadIan StuartJul 23, 2023
@beforewisdom @rbreich The rate of inflation has come down. While many people dislike any #inflation , we as a society have some #inflation on purpose. Take it up with the #FederalReserve and #MainstreamEconomics if you want no inflation (we aim for 2-3%). If we make our target, average prices will not come down.
Show threadIan StuartJun 24, 2023
@LiamOMaraIV People like to push #MainstreamEconomics theories as if they are as concrete as physical laws of science when in fact #EconomicsIsASocialScience and #ThereAreNoFundamentalLawsOfSocialScience . Moreover, much of what is focused on in the field of #Economics is intended to help college grads make money for individual corporations rather than to teach true #MacroEconomics . #1980sEconomics was always meant to manipulate the public.