Experts all, of course, have their areas of expertise.
Dr Hansen, who was one of the first scientists to warn of the dangers of global warming more than two decades ago, said that any deal reached at the UN Climate Summit in Copenhagen would be a “disaster track” for the world.
He said it would be better for world leaders to rip them up and start over again……..
Dr Hansen is vehemently opposed to the carbon market schemes currently proposed, where permits to pollute are bought and sold.
They are seen by the EU and other governments as the most efficient way to cut emissions and move to a new clean energy economy.
James Hansen is clearly a very clever man. He\’s also clearly very well informed about climate change itself.
But what, pray, does this add to his knowledge of markets or the economics of them?
Very little, it has to be said.
When we talk about the economics of climate change we should be taking evidence from economists, economists who have studied the economics of climate change perhaps. And that rather excludes James Hansen and whatever misunderstandings about markets he might have.
For we don\’t actually care who reduces emissions, from what process or in which country. We only care that emissions are reduced, meaning that it\’s entirely logical that we should have a market in emissions so that we reduce emissions at the lowest possible cost.