Countdown to Copenhagen
From our UK edition
How seriously are we to take Lord Stern on the economics of climate change? At the LSE yesterday, he rather hysterically claimed that the Copenhagen summit will be "the most important international gathering since the Second World War". Crucially, he added that the cost of dealing with the problem may reach 5 percent of GDP. Even so, "it would still be a good deal," he said. Really? Losing world economic growth condemns millions in the Third World to poverty: the globalisation of the last 15 years has been the greatest anti-poverty tool ever invented. So we should not be blasé about sacrificing growth, as if all it means is smaller cars for the rich. Poverty kills, and so will forfeited economic growth. Stern would argue that climate change also kills.