Dealing With Crises
Noam Scheiber says "our political system isn't ideally suited to dealing with financial and economic crises." Ezra Klein begs to differ:Indeed, I think our political system is actually fairly well-designed for short-term crises. The problem is long-term crises like global warming or health costs. As Peter Orszag wrote back on his CBO blog, "our political system doesn’t deal well with gradual, long-term problems" that require "trading off up-front costs in exchange for long-term benefits." Few Congressmen want to raise taxes tomorrow to reduce carbon a decade from now. Lots of Congressmen don't want the economy to collapse if they have to run for reelection next year. For that reason, I'm much more confident in the system's ability to react agilely and seriously to the economic crisis than global warming. The economic crisis, after all, threatens their reelection. Incumbents often don't survive depressions. Conversely, I think conventional wisdom is that it's fixing global warming, rather than global warming itself, that poses the largest political threat to incumbent legislators.
I think that's right. In fact, I'd go further: not only can we respond fairly well to short-term crises, we actually have responded fairly well to the current economic meltdown. There have been plenty of miscues and half measures along the way, but in the space of 18 months the Fed has created an alphabet soup of term lending facilities; Fannie Mae, Freddie Mac, and AIG have been nationalized; interest rates have been reduced to near zero; TARP was passed and hundreds of billions of dollars pumped into the banking system; the Fed has launched plans to rescue the commercial paper market, the money market, and the consumer loan market; FDIC insurance has been raised to $250,000; Detroit has been bailed out; and an $800 billion stimulus measure has been passed. Some of these actions might have been late or misguided — it could hardly be otherwise considering the depth and freakishness of the financial implosion — but all things considered, the willingness of our political system to deal with this crisis hasn't been all that bad. If we could muster half this much energy, mistakes and all, on behalf of global warming I'd be ecstatic.
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Comments
Part of the reason
"Japanese scientists have made a dramatic break with the UN and Western-backed hypothesis of climate change in a new report from its Energy Commission. Three of the five researchers disagree with the UN's IPCC view that recent warming is primarily the consequence of man-made industrial emissions of greenhouse gases. Remarkably, the subtle and nuanced language typical in such reports has been set aside. One of the five contributors compares computer climate modelling to ancient astrology. Others castigate the paucity of the US ground temperature data set used to support the hypothesis, and declare that the unambiguous warming trend from the mid-part of the 20th Century has ceased...."Of course no one actually knows one way or the other. "There are three kinds of men: 1. The ones that learn by reading. 2. The few who learn by observation. 3. The rest of them have to pee on the electric fence for themselves." - Will Rogers
I'm afraid you are right.
The global warming issue is
depends on the administration
here's a data point
It's not our system, it's human nature.
regarding Japanese climate researchers
Consider the converse
Building a lot of windmills
"not only can we respond
A rising sea of denialist rubbish
Climate Change as a Futures Market
Tom Fuller wrote: "I wish
Emissions reduction
More emission reductions
Secular Animist and JSTOR
Tom Fuller wrote: "you say
Nocturnal emissions
Paid Trolls
Tom Fuller, you have
Correction
Tom Fuller's bull s#*%!
Tom Fuller is obviously full of (you know what). You don't have to be a scientist to observe the overwhelming increase in warming during the last several years. Geezh! We don't have hardly any distinctions between the seasons any more... just constantly warm weather, year round, and I live in the NE part of the U.S.! And the Arctic and Antarctica? Does he really think people are that stupid to believe his drivel?!
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