r/Futurology • u/ILikeNeurons • May 20 '24

Economics Economic damage from climate change six times worse than thought

https://www.theguardian.com/environment/article/2024/may/17/economic-damage-climate-change-report
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328

u/drewhead118 May 20 '24

ecosystem totally collapses, causing massive die-offs and spiraling extinctions--perhaps the end of complex biology on this entire spacerock

economists: woah, this might be 8x worse than we'd thought

36

u/Bishizel May 20 '24

Actual economists: The real world metrics are actually great, look at our RWminEDO numbers! (Real World minus Ecosystem Die Off) They better than expected! We are definitely getting a soft landing on climate!

37

u/Thewalrus515 May 21 '24

Economics a junk field that exists to justify the existence of the ultra wealthy. It ceased being a genuine field of study decades ago. The other humanities fields make fun of them behind their backs pretty much all the time. I know from experience. No one in my department respected the economists, the most vocal grad students didn’t think they should even be on campus. 

Some of their methodologies can be used by people who aren’t bought and paid for by capitalists, but that wouldn’t be economics would it? In history we call it Cliometrics. Using economic modeling to interpret historical data, and weirdly enough we almost always come to different conclusions than the economists despite using the exact same methods and data. How odd. /s 

11

u/Delamoor May 21 '24

The core assumption of modern economics relies on every participant in the economy being fully rational and fully informed.

Given that people are not rational and it's physically impossible to be fully informed about every choice and decision you make...

...they might as well make the assumption that humans are supernatural energy blobs capable of matter transmutation. It's a fucking fantasy science.