The appallingly bad neoclassical economics of climate change

  title={The appallingly bad neoclassical economics of climate change},
  author={Steve Keen},
  pages={1149 - 1177}
  • S. Keen
  • Published 1 September 2020
  • Economics
  • Globalizations
ABSTRACT Forecasts by economists of the economic damage from climate change have been notably sanguine, compared to warnings by scientists about damage to the biosphere. This is because economists made their own predictions of damages, using three spurious methods: assuming that about 90% of GDP will be unaffected by climate change, because it happens indoors; using the relationship between temperature and GDP today as a proxy for the impact of global warming over time; and using surveys that… Expand
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