The climate and the fat tail risk

11 February 2020 — Michael Roberts

Last month at the gathering of the great but not good, the rich and infamous, at the World Economic Forum in Davos, US Treasury secretary, Steven Mnuchin, formerly a hedge fund manager, was asked whether he agreed that calls by teenage climate activist Greta Thunberg for public and private-sector divestment from fossil fuel companies would threaten US growth.  He said it would and Mnuchin jibed: “Is she the chief economist? Who is she, I’m confused… After she goes and studies economics in college she can come back and explain that to us.”  Thunberg retorted: “My gap year ends in August, but it doesn’t take a college degree in economics to realise that our remaining 1,5° carbon budget and ongoing fossil fuel subsidies and investments don’t add up.”

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Veritable Uprising or it’s The (Faux) Real Thing™: Greta and Climate Activism in a Wilderness of Projections

30 September 2019 — Counter Currents

by Phil Rockstroh and Kenn Orphan

[An ‘alternate’ take on Greta Thunberg @ the UNGA. Long but worth reading I think. WB]

PR: Kenn, recently, this observation of mine provoked a measure of ire:  Street demonstrations, even large ones, are apropos of nothing as long as they are manifested as de facto state sanctioned protests. A march proceeds, chants are cast into indifferent air, speechifying comes to pass by the usual gasbags then the assembled head home and carry on as usual. Conversely, a strike means job walk-offs — until the strikers demands are met — not walking out and walking back in the next day.

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