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Fabrication is a natural of faith-based schools. The media present the recent Nobel prize winner Nordhaus as a partisan to their alarmist cause when in substance his work offers a severe criticism of the hype.
Please re-read my last sentence: As of 2013, William Nordhaus—who just won the Nobel Prize for his work on the economics of climate change—was saying the optimal path of global warming would allow for temperature increases of at least 2.3°C and possibly close to 4°C. Yet the IPCC’s media people are telling the world that we should really shoot for 1.5°C of warming to avoid catastrophe, and that the difference between 1.5°C versus 2.0°C is huge.
Conclusion
I have serious reservations about the work of William Nordhaus and the other creators of so-called Integrated Assessment Models (IAMs), which are used to calculate the “social cost of carbon.” Yet to the extent that we are going to take IAMs at face value—and the major media touting Nordhaus’ Nobel certainly do—then they should give pause to those clamoring for aggressive government action. Although Nordhaus favors a carbon tax, his work shows that the recent goals announced by the IPCC are ludicrously aggressive, and would likely cause far more damage to economic growth than they would alleviate in terms of climate change.
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