Climate change economists win Nobel prize

11 October, 2018, 12:35 | Author: Brooke Harris
  • William Nordhaus left on screen and Paul Romer share the 2018 Nobel Memorial Prize in Economic Sciences

Nordhaus, 77, was specifically honoured for "integrating climate change into long-run macroeconomic analysis". The tax is created to make users of those fuels pay for the environmental damage they cause.

Farrell: In economics for a long time, economists would talk about the supply of capital and the supply of labor when they were talking about long-term economic growth, and that technology was kind of like manna from heaven, it just kind of emerged. And, most importantly, they drove many other economists toward these issues.

A 2014 report by the Heritage Foundation said that a tax of $37 a ton would cut economic output more than $2.5 trillion, or $21,000 per family, by 2030.

Many economists have since endorsed the concept of taxing carbon and using this financial lever to influence societal behaviour.

"His tools allow us to simulate how the economy and climate would co-evolve in the future under alternative assumptions about the workings of nature and the market economy, including relevant policies".

The Supreme Court could not have interfered in an age-old practice of prohibiting women aged between 10 and 50 years to Sabarimala temple on the basis of a petition filed by those who do not claim to be believers in the deity of the temple, a review petition filed on Monday said. While he observed that numerous questions might have been better put to Nordhaus, he gave a formidable performance, demonstrating how the issues of climate change are not far from his main focus either.

Sears appears to be preparing for a long expected bankruptcy filing
Sears and Kmart merged to form Sears Holdings in 2005 when they had 3,500 USA stores between them. Sears stores at Golden Triangle Mall in Denton and Ridgmar Mall in Fort Worth closed this year.

An example of this would be how a tax on carbon output would affect both the economy and the climate of any given nation. Nearly all Republicans, joined by a few Democrats, voted for the symbolic measure. But in recent years his attacks on economic models have irritated many of his colleagues. Meanwhile, China's emissions grow rapidly, making it the world's largest emitter of greenhouse gases.

"The reason is, if you look around, who are we talking about?"

Stern professor Paul Romer has been awarded this year's prestigious Nobel Prize in Economics by the Royal Swedish Academy of Sciences for his work involving economic growth, specifically "for integrating technological innovations into long-run macroeconomic analysis".

There are signs that the political ground could shift.

Nordhaus's work was not only to be included in academic syllabi: The U.S. government's Environmental Protection Agency used it to analyze the social cost of carbon dioxide emissions. Climate change and its effect on everyone's well-being, he pointed out, is not a part of national accounts, while profits and GDP are. Versions of a carbon tax have been used in Europe but have yet to be adopted in the United States. Yale's William Nordhaus, familiar to Marketplace listeners, I've read several of his books ... he's all about calculating the costs and benefits of climate change. "I've been working on that for nearly 40 years, and the time's ripe".

The report from the Intergovernmental Panel on Climate Change cited Nordhaus' research in detailing how Earth's weather, health and ecosystems would be better off if nations more aggressively curbed human-caused planet warming of 0.9 degrees Fahrenheit (a half degree Celsuis) rather than a previously agreed-on target of 1.8 degress F (1 degree C).



‘Hit squad’ left Turkey with Saudi consulate CCTV footage
In his last interview three days before his disappearance, he said he did not think he would return to Saudi Arabia. Suspicions are mounting that Saudi's crown prince ordered the murder of Saudi journalist Jamal Khashoggi in Turkey.

Google sits out $10 billion Pentagon cloud contest over AI principles
The company did, however, add that they are still "working to support the US government with our cloud in many ways". The JEDI cloud contract would potentially have a much broader exposure to the Pentagon's advanced weapons systems.

A New Version of The Legend of Zelda Just Launched on Switch
Anything you don't immediately have access to will be easy to buy given how many rupees you start this version of the game with. You'll begin with all equipment, incluing your White Sword, the Magical Shield, the Blue Ring, and even the Power Bracelet.

Dow plunges more than 800 points as tech stocks take beating
The CAC 40 in France dropped 2.1 percent, Germany's DAX lost 2.2 percent and the FTSE 100 in London fell 1.3 percent. In technology, Microsoft dropped 3.1 per cent to US$108.76 Wednesday and Nvidia lost 4.7 per cent to US$253.13.

Pet Sematary Trailer: What’s Dead Should Stay Dead
What do you think of the trailer for Pet Sematary? That's true for horror movies, and especially so if it's a King property. Pet Sematary co-directors Dennis Widmyer and Kevin Kölsch have revealed that they expect the movie to be rated R.

Timberwolves players growing exhausted of Jimmy Butler rumors during training camp
The most talked-about National Basketball Association star over the past month left his teammates speechless. Despite his owner's intent to deal Butler, Thibodeau wasn't done trying to keep his star shooting guard.

The clubs Kevin Tway had in the bag at the Safeway Open
Im began the final round four strokes off the pace and stumbled out of the gate on Sunday with bogeys on the first two holes. Conversely, Moore played himself into contention with a round of 67 having started the day seven shots off the lead.

Duchess of Cambridge glows in flowy checkered frock at solo royal engagement
Last month Prince William opened up about the emotional toll of witnessing suffering during his time as an air ambulance pilot. The Cambridges have two older children - Prince George, five, and Princess Charlotte, three.

Hubble space telescope goes into 'safe mode' over faulty gyroscope
Assuming the team can rescue the malfunctioning gyroscope, Hubble will resume operations in its standard three-gyro configuration. The James Webb Space Telescope , Hubble's powerful successor (at least, in the infrared regime), is now set to launch in 2021.

Japan overtakes Singapore as world's most powerful passport
The index, by Henley & Partners, a citizenship and planning firm, showed Japan to have the most powerful passport on the planet. Over the same period Georgia has added 18, Ukraine and the United Arab Emirates 17, and China 14.