The Nobel Prize In Economic Ignorance

Oxford Economics and Bloomberg say greenhouse gas emissions might wreck the economy.

Climate Change Might Hit Economy Harder and Faster Than Thought – Bloomberg

Last year’s Nobel Prize in Economics was given out for the same idea. William Nordhaus said greenhouse gas emissions would lower corn yields.

William D. Nordhaus – Prize Lecture

Now let’s compare these claims vs. reality, by looking at data from Oxford University’s “Our World in Data” web site. CO2 emissions have gone way up since 1950.

CO₂ and Greenhouse Gas Emissions – Our World in Data

And so have crop yields.

Average corn yields in the United States, 1866-2014 – Our World in Data

Crop Yields – Our World in Data

The relationship between corn yields and CO2 emissions is very close.

GDP has risen as CO2 emissions have increased.

GDP per capita – Our World in Data

Poverty has plummeted as CO2 has risen.

Nobel Laureate William Nordhaus got everything exactly backwards, just like most of the rest of the population – who have been subject to non-stop brainwashing about CO2 and climate for decades.

The (mis)perceptions about poverty trends Misperception in the UK Despite the clear evidence, many people are not aware of the fact that extreme poverty is declining across the world.

While the share of extremely poor people has fallen faster than ever before in history over the last 30 years, the majority of people in the UK thinks that the opposite has happened, and that poverty has increased.

The extent of ignorance in the UK is particularly bad if we take into account that the shown result corresponds to a population with a university degree. See the Gapminder Ignorance Project for more evidence.

Not only in the UK are many wrongly informed about how poverty is changing globally. Across a large number of countries, the majority of people – 52% – believe that the share of people in extreme poverty is rising.

Global Extreme Poverty – Our World in Data

Greta’s relative who started the global warming scam, Svante Arrhenius, said  global warming would make Siberia the greatest farming country on earth.

One of the greatest scientists in the world is Arrhenius of Sweden. He is a chemist and physicist, and has studied this matter. He shows that this proportion of carbon dioxide in the air will make the climate warmer, by acting like the glass roof of a greenhouse. With the carbon dioxide increased from two and one-half to three times, the temperature of the whole world will be raised 3 to 9 degrees centigrade—and Greenland will have a good climate for farming. All the good soil of Canada will be in as temperate a climate as that now enjoyed by Missouri. Corn will be grown in the Peace River Valley. Oranges will be an orchard fruit in Arkansas and Virginia. The suburban residents of Chicago may literally sit under their own fig trees and seuppernong grape arbors. Cotton will be a stable crop in Iowa. Bananas will fringe the shores of the Gulf. Siberia will become the greatest farming country in the world.

The Pueblo Leader – Google News Archive Search

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9 Responses to The Nobel Prize In Economic Ignorance

  1. Gummans Gubbe says:

    It always hurt when people calls “the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel” for a Nobel prize. This is a price given out by banksters, I became aware of this price when they gave it to someone suggesting burying money was a good idea back in 2008.

    The banksters goal is not in the best interests of humanity.

  2. John of Cloverdale, WA, Australia says:

    Tony here is a graph of the historical wheat production in the Western Australian wheatbelt, from 1980 to 2018. An increase of 2 and 1/2 times.
    Back in 2004, our infamous climate alarmist, Tim Flannery, said Perth would be a ghost city and our Wheatbelt would turn into a desert because of a lack of water through Global Warming.
    Many false prophecies later and he is still making money from the Global Warming trough.

  3. -B- says:

    “but the tipping point” is the alarmist retort to reality not matching their dogma. See CO2 doesn’t hurt us until it does, then we all die. It’s religious nonsense.

  4. MGJ says:

    I remember studying Economics as a child, looking at Prize winners and thinking: you get a Nobel Prize…for THAT!!! Things have not improved.

    Climate Change will of course have a strong negative impact on the Economy but only because it hastens our decline via catastrophically incompetent and politically corrupt government government interference.

    The evidence, as opposed to the politics, shows clearly that a small rise in temperature would be rather beneficial to human well-being, as Tony’s blog has shown.

    • Gator says:

      Leftists love giving each other bright shiny objects they call “awards”. Because they never actually accomplish anything worthwhile, they use these bright shiny objects to make it appear that they are all winners. They trade them back and forth like baseball cards. And just like with our kids today, when a leftist is being awarded a trophy, it still does not make them a winner. Participation is all that counts.

  5. Clare Swift says:

    At least some scientists are standing up
    Here’s a link to a video on a recent paper showing exactly why the IPCC models are always wrong.

  6. Petit_Barde says:

    What destroies economy and jobs is bad ressource allocation.

    Wind farms and solar panels are the worse ressource allocation with respect to electricity production.

    None of these technologies can even product the energy needed to construct, install and maintain them. Thus, they are comparable to Ponzi schemes.

    Only crony capitalists can invest in such Ponzi schemes thanks to corrupted politicians who stole people with CO2 taxes in order to subsidise this scam and fill their pockets.

    Now those scamers are in for billions, they will not give up easily :
    – many more “yellow vests” will be needed to sack this bunch of fraudsters and establish again an actual free and competitive market.

    Until then, they will push this fraud again and again in all the possible ways :
    – they are billions at stake.

  7. Glod says:

    “Svante Arrhenius, said global warming would make Siberia the greatest farming country on earth.”

    I have serious doubts Arrhenius ever said that but if anyone can show the source it would be appreciated. Herbert Quick wrote the article you cited. (any reason you cropped out the original headline “Onboard the Good Ship Earth – by Herbert Quick”?) I suspect he exaggerated or made part of it up.

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