An article on the dire effects of global warming caught my eye today. It can be found here:
World Bank warns of ‘4 degree’ threshold
It comes with some amazing (and scary pictures) that are worth looking at. Makes me feel how limited (albeit analytically correct) our analysis of negative production externalities is (sure...it's just a matter of slapping a tax equal to the external cost or to determine the maximum acceptable level of pollution and hand out tradable permits - and presto, there goes global warming...yeah, sure). For the more ambitious of IB Economics students here is the executive summary of the World Bank research:
Turn down the heat: why a 4 degree warmer world must be avoided
You can always just look at the gallery of pictures here.
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