What to Do About It?

Larry Summers is a Harvard Prof, former Secretary of the Treasury, former Harvard President, and former hero to the Lumonator. Like your humble correspondent (YHC), Summers has concluded that the debate over the what of Antropogenic Global Warming (AGW) is over, and that it's time to figure out what to do about it. Also like your humble correspondent, Summers is none too happy with Kyoto or its Cap and Trade paradigm. (Via Brad DeLong):

With the accumulation of scientific evidence and its persuasive presentation to the public, the global warming debate has reached a new stage. Those who still deny that human activity is warming the planet, or claim that “business as usual” can continue indefinitely without profoundly adverse consequences, are increasingly seen as the moral and intellectual equivalent of those who deny that tobacco has adverse consequences for human health.... [T]here are huge opportunities to reduce emissions with economic benefit or negligible economic cost...

The real question for debate is not whether something should be done – that debate is over among the rational. The crucial question now is what should be done so as to leave our descendants with the highest possible quality of life...

He goes on to list some problems with Kyoto. Unlike YHC he defers his suggestion for a substitute approach until next month.


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