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A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Thu Dec 26th, 2013 at 04:11:53 PM EST
[ Parent ]
Fortunately, from my read of Michael Hoexter's three part article in New Economics, (link in comment above), he does not get involved with trying to integrate thermodynamics into macro-economics.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Dec 26th, 2013 at 06:20:10 PM EST
[ Parent ]
Although it's intellectually pleasing to do so, it's more complicated than necessary, considering that the house is on fire.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Fri Dec 27th, 2013 at 04:45:41 AM EST
[ Parent ]
A good first order approximation might be to include an environmental cost term in all cost/benefit analyses that captures the climate change impact of both construction and lifetime operation. Then the per ton charge for methane release would be twenty times that for CO2, etc.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Dec 27th, 2013 at 10:27:46 AM EST
[ Parent ]
We've been discussing real cost economics since the 70's, but no one wants to get down to even using the best estimates, much less actual cost.

WE would never have to mention externalities again.

"Life shrinks or expands in proportion to one's courage." - Ana´s Nin

by Crazy Horse on Mon Dec 30th, 2013 at 03:40:07 PM EST
[ Parent ]

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