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View Diary: Why Traditional Economists Don't Know Jack Re: the Misunderestimated Costs of Climate Change (17 comments)

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  •  Another observation: (6+ / 0-)

    Somebody complained to me last week in a rather vague way about the "costs" and "burden" of environmental regulations generally. My response also applies to the supposed costs of investing in clean energy solutions and other corrective measures against climate change: The money for these "costs" doesn't just disappear or sit in a vault, it's going to pay people in new jobs and sectors to provide and develop those technologies and services. It's merely being re-routed to other areas of the economy, and it will presumably cycle back through the rest of the economy like any other investment or expenditure. One person's costs are another person's paycheck. Might as well pay it to the average guy working on a wind farm than to the pharmaceutical companies who make your kid's asthma medication because of all the coal-fired power-plants we'd keep building otherwise.

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