What's this?! A potential chink in the groupthink armor of the neoclassical (mainstream) macroeconomics edifice?

'"None of the assumptions that this relatively small group of economists have made about global warming 'pass the smell test'," University College of London professor Steve Keen wrote in a paper this year of the need for economists to check their results against common sense and prevailing climate science.'

https://www.reuters.com/business/environment/economic-models-buckle-under-strain-climate-reality-2023-11-22/

#climateemergency #macroeconomics #smelltest

Economic models buckle under strain of climate reality

Ahead of international climate talks in Dubai this month, economists are updating estimates of the impact of global warming on the world economy, sometimes calculating down to a decimal place the hit to output in decades to come.

Reuters