Prioritize Global Warming "Crisis"

Bjorn Lombord explains how we must economically prioritize big serious issues:

"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."

Slipping into his environmentalist's shoes, he also says people need to get some perspective. "The U.N. tells us global warming will result in a sea-level change of one to two feet. It is not going to be the 30 feet Al Gore is scaring us with. Is this one to two feet going to be a problem? Sure," he says. "But remember that this past century sea levels rose between one-third and a full foot. And if you ask old people today what the most important things were that happened in the 20th century, do you think they are going to say: 'Two world wars, the internal combustion engine, the IT revolution . . . and sea levels rose'? It's not to say it isn't a problem. But we fix these problems."

At the very least, the Copenhagen Consensus might make it harder for public figures to defend bad decisions. "If you have a rational list that tells you that you do a lot more good preventing HIV/AIDS, then those in favor of such projects have slightly better arguments. Those arguing for climate change have slightly worse arguments." And while this may not change the world, it could be a start. "The Consensus isn't about getting it perfectly right," says Mr. Lomborg. "It's about getting it slightly less wrong."

Read the whole article here.
Read more about Bjorn Lomborg here.