5. No Effect OR Catastrophe
991 views · Published 10 February 2015 · 2:38 · Indexed 12 October 2026
Channel: Friends of Science · 2015 · Education
Ross McKitrick, professor of economics at the University of Guelph and co-author of “Taken by Storm” explains that if you have a Computable General Equilibrium Model (such as is used for evaluating national economic trends) no one would take you seriously if you said there’d be a 15 fold increase in trade next week – they would say you have a problem with your model. However, for some reason this kind of hyperbole is acceptable when the Integrated Assessment Models are discussed vis a vis the Social Costs of Carbon. McKitrick questions how a model can be taken seriously if the results show there could be no effect, OR a total catastrophe, from just one tonne of carbon dioxide. McKitrick recommends that policy makers wait a couple of years before instituting any new policies as he anticipates the models will be revamped to be more realistic and provide better information.
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