Check Your Spillover: The Climate Colossus
Geoff Mann, 10 February 2022
Economists ‘set themselves too easy, too useless a task’, Keynes said, ‘if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again’. But in the face of climate change, the long run – which remains the sacred temporality of economics – is a misleading guide not only to current affairs, but to the long run itself. There is no reason to expect the ocean to flatten again; we may be in for a permanent storm.