The Sceptical Economist

A pragmatic's blog about sustainability, economics and other interesting things. (formerly called Green Mycelium)


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The Not-So-New Climate Economy Report

An alliance of the most influential global institutions, including the UN, World Bank, IMF and OECD, just issued a report of the Global Commission on the Economy and Climate, chaired by Felipe Calderón and Nicholas Stern. The report’s title is Better Growth, Better Climate: The New Climate Economy. In a nutshell, it says that not only is climate action compatible with economic growth, but the two may actually work as a positive feedback loop: more climate action leading to more growth, “smart” growth-spurring policies reducing emissions of greenhouse gases. By and large, the report does not contain any new arguments, as it is more of a synthesis of existing research. Alas, it is a synthesis of only a part of existing research, which can be already seen in the title: economic growth is a main objective along with the mitigation of climate change. You’ll vainly look for any reference to the degrowth and a-growth debates, and so the report, while valuable in some respects, reproduces many of the common errors of growth-enthusiasts. Continue reading


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Genetic Biodiversity in the Era of Genetic Engineering

Given my past involvement with Greenpeace, the fact that I have changed my mind about genetically engineered crops (GMOs) makes me an apostate. Continuing my heretic writings, I will try to show today that biotechnology, specifically genetic engineering, can be good for biodiversity, specifically genetic diversity. Continue reading


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On Economic Valuation and Sick Mothers

I have spent most time this week at the Fourth International Conference on Degrowth for Ecological Sustainability and Social Equity, which takes place in Leipzig. In one of the sessions today, my doctoral father had the pleasure(?) to defend the economic (valuation) approach to environmental problems in a panel discussion. Most arguments used in this discussion against the economic approach were, I say it frankly, nonsense. Either they resulted from misunderstanding or from confusion or they just didn’t have anything to do with the issue. The only two valid arguments I was able to filter out were: a) that economists often treat ecosystems atomistically in that they value single ecosystem services and then just “add them up”, which is a practice I am very concerned about, too, and b) that the economic approach hasn’t achieved anything so far (which is debatable, but still a valid critique, as there is no systematic assessment of this issue to be checked against). Today, however, I would like to respond to one of the misconception-based arguments, for I think that it shows in an impressive way what economics is (not) and why we need economic analysis. Continue reading


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A Question of Balance

“It’s a question of balance.” I guess, this might be the most often-used phrase on this blog. Today, again, I would like to write about an important balancing act that is not easy to achieve. Particularly so, as we have to achieve it (almost) everyday. It is the balance between being satisfied, on the one hand, and not being satisfied, on the other. Continue reading


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What’s So Good About Biodiversity?

Sometimes, there are books you wish you wouldn’t have read. Mostly, these are bad books. Recently, I read a quite good book that I nevertheless first wished had escaped my attention. It’s Donald S. Maier’s What’s So Good About Biodiversity: A Call for Better Reasoning About Nature’s Value. It’s shaken up my view of why biodiversity is valuable (although not as much as initially thought). As I had to think a lot about Maier’s provocative and very polemic argumentation, for it has posed a challenge to the core of my PhD thesis, I would like to attempt a “self-therapeutic” review of his book’s first part, in which he attacks the status of biodiversity as carrier of nature’s value (I haven’t yet read his exposition of an own account why nature is valuable). Continue reading


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Is Economic Valuation a “Neoliberal Road to Ruin”? A Response to George Monbiot

George Monbiot is actually an environmental journalist I esteem highly. But I do not agree with his aggressive criticism of what he calls a “neoliberal road to ruin”, which I would prefer calling economic valuation of environmental goods and services [the linked article is a transcript of Monbiot's talk, which you can see below]. While he does make important points, I see his criticism as mistaken in many respects. In what follows, I would like to respond to some of the points he made. Continue reading

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