Mmastodon EnvironmentClimate first seen 7 h ago, last 6 h ago, peak #11
Economic Forecasts Slammed for Ignoring Environmental Costs
Original: ## All Current Economic Prognostics Ignore Externalities It’s all well and good to talk economics and discuss parameters
An Australian-based commentator argues that mainstream economic forecasting is built on flawed assumptions because it treats natural resources as infinite, overlooking externalities such as environmental damage. The critique says economists debate parameters and economic rationalism without accounting for the real limits of the planet's resources, a gap that is drawing attention amid ongoing debate over climate economics.
Why now: Debate over whether economic models properly account for environmental externalities is resurfacing as climate concerns grow.
economic forecastingclimatenatural resources
Evidence
- ## All Current Economic Prognostics Ignore Externalities It’s all well and good to talk economics and discuss parameters which relate to economic systems (mostly economic rationalism — which comes with a baggage of flawed assumptions) but our resources are not infinite, our… · RaymondPierreL3@aus.social · 1
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