The Economics of Climate Chaos
Thursday, November 6th, 2008
Karl Williams
July 2008
It’s one thing to calmly read statistics about climate chaos but a completely different experience to hear the frightening stories from the disaffected.
In the remote north-eastern Thai province of Nan, listening to a 60-year-old café proprietor relate how the climate has changed in her lifetime, visions of a freaky future of climate chaos hit me in a way that no peer-reviewed scientific forecast would ever do.
In this woman’s entire childhood, summer temperatures had never risen above the low thirties, but now the mercury hits 40 and beyond most summers. Moreover, whereas the monsoonal rain season used to last for a good five months, now it’s usually about three. Such changes haven’t progressed gradually, but have exhibited wild gyrations that are evident in the very landscape.
While wealthier residents of Bangkok can today still mask these unsettling climate changes with a casual adjustment of their air conditioner, those in the countryside are forced into a personal concern with what they’re suspecting is just the beginning of climate chaos spinning out of control.
Yet the economic reason why we’re rushing headlong into the abyss is not hard to fathom. Without fully costing the consequences of our use of fossil fuels, we effectively provide a set of subsidies to keep on wreaking environmental destruction.
Looking on the positive side, we have real hope in the form of the elegantly straightforward geoist principles of applying natural resource charges which would force each polluter to pay for the consequences of their actions and hence provide a stiff disincentive against further polluting.
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