Tipping points—elements of the Earth's climatic system that can be flipped from one state to another with a relatively minor change in temperature, and which could then cause major and abrupt changes in the climatic system itself—are a key concern for climate scientists (Lenton et al.
They also forget/ignore financial tipping points. What happens when significant amounts of property and infrastructure become uninsurable? At least I can still get flood insurance for my 6th floor apartment! If neoclassical economists want to get some “empirical” numbers, they could try asking actuaries.
I have found the Swedish Bank prize makes a funny acronym: SRPiESiMoAN. I shall refer to all SRPiESiMoAN laureates as such.
They also forget/ignore financial tipping points. What happens when significant amounts of property and infrastructure become uninsurable? At least I can still get flood insurance for my 6th floor apartment! If neoclassical economists want to get some “empirical” numbers, they could try asking actuaries.
I have found the Swedish Bank prize makes a funny acronym: SRPiESiMoAN. I shall refer to all SRPiESiMoAN laureates as such.
Nice one! And yes, that lot are into fantasy rather than fact