It's the weekend and I have been cleaning out files (I need to make room in my cramped office for new ones, right?). One hanging folder I came across was marked "Climate Change" and the materials in it were mostly from the late 1990's though there were a few from the late 80's, too. I may list them (for fun) in another post, but here I want to hightlight one nicely produced letter size 16 page pamphlet from July of '97 put out by a group called Environmental Media Services (now replaced by Science Communication Network). It is called "Understanding the Economics of Global Climate Change," and from the laid in letter from the Executive Director and the beginning of the introduction it is clear that it is a counter-piece to the PR of the (then) well know energy industry group called the Global Climate Coalition (GCC), a fog-wash group I used to follow that tried to muddy the policy waters of Washington and forestall any kind of meaningful action on GHG reductions (GHGs largely produced by their member companies). What strikes me about the pamphlet is this: we may have marginally more data about the changes in the global climate (most registered locally...a common and misguided critique that I have dealt with elsewhere) but the core arguments have not advanced an iota. I will be out front about the fact that I believe this is due to the lack of vision on the part of elected officials that has made them susceptible to the direct lobbying pressure of interest groups like GCC, and the indirect pressure of constituents who have been propagandized by GCC and their allies. They succeeded just enough during the corporate democrat Clinton years, and dominated during the grease-the-skids-to-hell Bush years, and so we have gone, really, nowhere (except farther into the abyss) to the extent that most of this 16 page booklet could have been written yesterday. Ah, like the Buddhist Wheel of Life, we go round-and-round, learning nothing. Reading through this tract was like revisiting the last thirty years of my education (or was that life....or what is the....oh, yeah<G>) "Often treated like a hard science, economics is in fact a far more subjective discipline." "...conventional economic methods are poorly equipped to process issues like those posed by climate change, where effects are long-lasting, widely dispersed and irreversible." (By far the best explanation of why this happens is in the British book Timescapes of Modernity by Barbara Adam, which I bought at Blackwell's some years ago and can recommend highly.) "...in the case of climate change, there happens to be a consistent structural bias against taking steps to solve the problem." That structural bias has two main parts, valuing of natural sources and sinks at zero, and the use of Net Present Value to discount future benefits of current investments while costing the investment in them at present value. This is nothing new. We have known this a long time -- I personally have known this since hearing it in my college courses at UMass Amherst in the late 70's, which means it was common academic / policy knowledge long before -- and yet we are still stalled at the stop light, one foot on the brake of prudence (we'd like to think, but more likely inhibition, or caution, or cowardice) while the other foot is full down on the throttle of consumption, and the Monster Truck of our path to (environmental) Hell is burning rubber and making a helluva scream that the crowd loves in its Colliseum fervor. Duce! Duce! Thumbs down!