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The Break Down: What Economics Gets Wrong About Climate Change w/ Ha-Joon Chang
Manage episode 425823825 series 3439881
What would you say a human life is worth? According to the US government, for an American it’s about $7.2 million, compared with the global average of approximately $1.3 million. If you’re Swiss though, you’re worth a pretty penny at $9.4 million.
While these estimates might sound absurd, they're really important to understand: these kinds of figures and the models that produce them are a core part of how mainstream economics understands and shapes policy, and they have had a significant role in shaping our approach to the climate crisis. Indeed, as Adrienne and celebrated economist Ha-Joon Chang break down in today's episode, mainstream economics gets a lot wrong, and has proven strikingly ill-equipped for addressing a challenge like climate and ecological crisis, not least through its tendency to reduce complex decisions to abstracted cost-benefit analyses.
Ha-Joon Chang is an economist and Professor at SOAS University of London. Ha-Joon has been an advisor to several international organisations, and is the author of many books, most recently ‘Edible Economics’.
151 episode
Manage episode 425823825 series 3439881
What would you say a human life is worth? According to the US government, for an American it’s about $7.2 million, compared with the global average of approximately $1.3 million. If you’re Swiss though, you’re worth a pretty penny at $9.4 million.
While these estimates might sound absurd, they're really important to understand: these kinds of figures and the models that produce them are a core part of how mainstream economics understands and shapes policy, and they have had a significant role in shaping our approach to the climate crisis. Indeed, as Adrienne and celebrated economist Ha-Joon Chang break down in today's episode, mainstream economics gets a lot wrong, and has proven strikingly ill-equipped for addressing a challenge like climate and ecological crisis, not least through its tendency to reduce complex decisions to abstracted cost-benefit analyses.
Ha-Joon Chang is an economist and Professor at SOAS University of London. Ha-Joon has been an advisor to several international organisations, and is the author of many books, most recently ‘Edible Economics’.
151 episode
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