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What Does the Movie "Dirty Harry" Teach Us About Adapting to Climate Change Risk?

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 Michael Mann has co-authored a witty letter to the Wall Street Journal.  Here is a photo for you to appreciate his insights.

His letter makes an analogy between climate change and Clint Eastwood in the first Dirty Harry movie. For those of you who are too young to have watched this then watch this YouTube Video.

In this scene, the Bad Guy is uncertain about whether Clint still has a bullet in his gun. He guesses wrong and dies due to his decision.
Professor Mann is implicitly saying that we also face uncertainty in the face of climate change and we are currently taking a gamble by allowing global greenhouse gas emissions to rise.  He is hinting that we will suffer the same fate as the Bad Guy in Clint’s Dirty Harry movie.
Is he right?  
The theme of my 2021 Yale University Press book adapting to climate change is that more and more of us know that we don’t know how hard Mother Nature will punch different points in the map.  This uncertainty actually creates an incentive to adapt and to learn about these risks.  In my book, I argue that capitalism is now evolving and gearing up to cope with this risk.  Free markets will help us to adapt to this scary risk exactly because it is so scary.  Aggregate demand creates supply. We have baldness medications because there are millions of bald men willing to pay for such a cure. In a similar sense, free market price signals lead to directed search for the new problems that people need solved.
PHD economists need to work on the question of how people react to ambiguous risk.  When risk averse people know that they do not know what risks they face, what “real options” do they implicitly buy to protect their families so they can reoptimize in the future when they know more about the tradeoffs of living in a place such as a fire zone or flood zone? Modern climate economics today seeks to ignore the Lucas Critique because it makes the math messy but that’s not a good reason to take choice under uncertainty seriously.  Induced innovation will occur because of the uncertainty. This means that our adaptation menu choice set expands over time. This means that the “envelope theorem” doesn’t hold.   What it does mean is that the empirical climate damage function (the Key to Bill Nordhaus’s Nobel Prize work) flattens over time due to adaptation efforts.


Source: http://greeneconomics.blogspot.com/2021/08/what-does-movie-dirty-harry-teach-us.html



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    Total 2 comments
    • Anonymous

      climate change pushed by the agenda seekers is total bullshit–climate change has been going on for millions,billions of years-the amount of co2 is days past emitted by the earth was huge–that is why there was huge jungles,they thrive on co2,carbon—-the last 2 years of fires in calif. emitted as much carbon as 40 years of human cause carbon–nobody gives a shit,because its all a lie from you green maggots-one volcano puts out as much emission in a month as humans do in a year–there is at least 40 volcanoes going off now-your immature cartoonish example of dirty harry is the usual clown spewing vomit from an empty dishonest brain….jackass

    • allendaves

      #1  “ONE” not triune: ……Satan in The garden…God said you will die…Satan comes along and states no you will be more WISE……today .God said He is one; but Satan’s children come along and say no three is more WISE and humble in the face of God’s grandeur only “a mystery” that can be understood “in faith”.  Fools, hypocrites and blind guides, God said he was One and by your traditions and vain imaginations have taken the words of God and made them of no effect, refashioning God into your image! 

      Jesus is only a son by vertue of the fact that the human flesh that the SINGULAR PERSON GOD occupied belonged to God personaly there was no other spirit in Jesus to lay claim to the male human flesh/son of marry/”SON OF MAN” …..erogo “son OF GOD” bleonging to God (as a possesion) not a second or different person!! As such Jesus is not the bastard son trinitarians or muslims would try to make him out to be
       
      https://www.scribd.com/doc/305367608/The-Trinity-Heresy OR https://www.academia.edu/23463667/THE_TRINITY_HERESY or http://www.globethics.net/gtl/10920799 THE TRINITY HERESY

      #2 SECOND COMING Thou Fool! “I come quickly” so “Hold fast till i come”… NOT …“in another 2000 yrs I might be coming soon any time now, so hold fast”!?! … https://www.scribd.com/doc/305366745/Revelation-the-First-Gospel-of-the-Kingdom or http://www.globethics.net/gtl/5455069 Revelation The First Gospel of The Kingdom or https://www.academia.edu/23464127/REVELATION_THE_FIRST_GOSPEL_OF_THE_KINGDOM 

      #3 Predestination….its true..its all true…download here https://www.scribd.com/doc/306868420/Most-True-Christians-Go-to-Hell http://www.globethics.net/gtl/10920800 Most true Christians go to hell https://www.academia.edu/25217564/Most_True_Christains_Go_to_Hell

      #4 Water babtisim?  HTTPS://WWW.SCRIBD.COM/DOCUMENT/326686356/THIEF-CROSS-3D
      HTTPS://WWW.ACADEMIA.EDU/23846490/THIEF_AND_CROSS_3D

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