When looking at any set of data, it is important to take notice of inflection points. There are several studies now that indicate the inflection point occurred at the start of the industrial age. While we can argue whether this is an artifact due to other causes, we should consider the impact of different paths. For example, if you believe that climate change is not real, you can assign it a value of 1 (out of 10) However, that doesn't change the potential impact which would be very large. (10) . In a failure mode analysis, you would apply the resources to make sure that the negative impact doesn't happen. All the glib statements about Fred Flintstone's SUV will not help if the impact of climate change really occurs. Conversely, what happens if we take steps to minimize climate change? We will have spent resources on solar and wind power which will make us less dependent on fossil fuels. In addition, our cities will have fewer IC engines contributing to air pollution. To me, taking steps to reduce CO2 emissions is a much less risky path for the coming generations.
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“There is no such thing as a normal period of history. Normality is a fiction of economic textbooks.”
— Joan Robinson, “Contributions to Modern Economics” (1978)
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