QotD: "Climate change and the true cost of economic growth...”

"There is no 'true cost of economic growth.' The cost of economic growth, including compliance with regulations, is built into the calculation of economic growth. To the extent that future climate change may or may not impact future economic growth, there’s no evidence that 'carbon' regulations will do anything other than moving the costs back in time from the future to the present. A real-world discount rate zeroes out all potential 'benefits' of carbon regulations."
        ~ David Middleton, in his post ‘Climate Change and the True Cost of Economic Growth’ – A Grauniad Fairy Tale'

.