Wednesday, March 04, 2009

The Biggest Market Failure in human history...

no, is not the sub-prime crisis
no, is not de-regulation or over-regulation
no, is not the Fed's printing of fiat money
no, is got nothing to do with basic human greed

The biggest market failure the world has ever seen is Climate Change.

Simply put, it is the failure of current economic models to include and price externalities.

In the end the costs of inaction in dealing with global warming, will far far exceed the cost of dealing with global warming today.

And the world over, Spore included, governments & their policy makers are still drunk on the traditional economic model of inputs consumption. GDP numbers above everything else, totally ignoring sustainability. How stupid can they be.

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