Stern Report Attacked for “Advocacy”

In analyzing any issue, economists must work to control bias. Researchers with the Productivity Commission in Australia have labeled the Stern Review on the Economics of Climate Change “as much an exercise in advocacy as an economic analysis.” The researchers agree with the Stern Review that climate change will have economic consequences, but suggest that the likelihood of catastrophic events, caused by greenhouse gases, were exaggerated. Other economists argue the Stern Review underestimates the economic problems. More world leaders are open to policy shifts that could tackle climate change, writes Adam Morton for the Age in Australia. Past generations started the problem of global warming. Future generations will likely pay high costs to mitigate and adapt. The current generation certainly could take steps to conserve energy, taking responsibility to reduce future costs and sacrifice. – YaleGlobal