Monday, July 10, 2006
Global Warming - and more
I would put this in the "must read" category.
It discusses cost vs benefits as the basis for prioritizing world issues...
It discusses cost vs benefits as the basis for prioritizing world issues...
Kimberly A. Strasselt writes for the Wall Street Opinion Journal:
"Yet the experience left Mr. Lomborg with a taste for challenging conventional wisdom. In 2004, he invited eight of the world's top economists--including four Nobel Laureates--to Copenhagen, where they were asked to evaluate the world's problems, think of the costs and efficiencies attached to solving each, and then produce a prioritized list of those most deserving of money. The well-publicized results (and let it be said here that Mr. Lomborg is no slouch when it comes to promoting himself and his work) were stunning. While the economists were from varying political stripes, they largely agreed. The numbers were just so compelling: $1 spent preventing HIV/AIDS would result in about $40 of social benefits, so the economists put it at the top of the list (followed by malnutrition, free trade and malaria). In contrast, $1 spent to abate global warming would result in only about two cents to 25 cents worth of good; so that project dropped to the bottom."
