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186. William Nordhaus on the Economics of Global Warming, Pandemics, and Corporate Malfeasance

The Michael Shermer Show

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The Science of Choice in Economics

Economics is a science of choice in one word, yes. You have to give things up if you want something else. We're all comfortable with corporations dumping chemical waste into the local river. But what's the analogy to well, you're dumping c o two gas into the atmosphere and it floats over to some other country? So how do we get people to think about the atmosphere like a local river? Well, maybe an maybe another aloge would be like a ah, it's co too. Is invisible. Ah, it just floats around, floats around the air, and you ser walt maybe a little bit like a corone of iris. It doesn't happen overnight

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