Political Economy of Climate Disruption - [ECO]NOMICS Part 2

Mainstream economists like to talk about choosing between climate protection and consumption. They often produce studies showing that policy action is too expensive, while climate change itself is not too costly. But a well-functioning climate is the basis for producing goods and services, not an alternative to them.

In part 2 of [ECO]NOMICS, Professor Juliet Shor introduces the political economy approach to climate change, as an alternative to the usual economics. This direction links action and inaction to economic and political interests. Who has interests in continuing to emit greenhouse gases, who is benefiting, and who is bearing the costs? Political economy turns the focus on the companies, countries and people who are disproportionately responsible and have a strong interest in the status quo. Prof. Schor shows how fossil fuel companies have spent vast amounts of money and effort in influencing public opinion and capturing politicians, to forestall government action on climate change. Solving the political economy problem requires new ways of thinking about transcending the interest-based politics that has led to climate inaction.

Part 3 will be available May 11, 2022

Credits: Juliet Schor, Matthew Kulvicki, Nick Alpha, Gonçalo Fonseca, Kurt Semm

[pallavshrivastava]

I live and breathe economics. I never thought I would be able to learn so much about econ from YouTube. thankyou INET. you are doing quality work.

[tymanung]

Who is this highly intelligent, accurate, honest, zero in
soeaker? Great!!

[Alanoru]

As someone who graduated with a major in Economics and has been living with the climate crisis as one of the greatest threats to humanity. These are some of the best lectures I have seen on the topic.

Thank you!

[Buckzoo]

So the economics departments in academia largely ignore such an important topics - the climate change. Economy. Scary. Irresponsible.

[Rnankn]

She missed one of the most important disproportionalities in carbon emissions. Generational imbalance. The bulk of cumulative atmospheric carbon was from a single generation: the baby boomers in North America and Europe. They not only burned the most carbon, even after being undeniably aware of its impacts, they used their large majorities to build out a culture of dependence on it. As a generation, they enriched themselves through widespread home ownership, car culture and stock ownership. They financialized the economy, and strengthened limited liability. After extracting the benefits of its use, exhausting the accessible supply, denying the effects, and enjoying the profits, baby boomers have disavowed regulation, public programs and international agreements for a sustainable future. Instead, they have levered and commodified everything well into the future, and persist in hoarding all of the wealthy and power refusing to fund mitigation or adaptation. As a generation, they will die without bearing responsibility or sharing cost and their only legacy will be death and destruction.

[Skylark_Jones]

For decades the wrong people in the wrong place at the wrong time have led us towards the climate abyss: they know who they are.

[PesteNegro]

10:52 I think that this graph, if it was not made this way (it isn't clear on the video) could've be done considering the emissions per capita because the gross emission might be misleading.

[pacoshuman]

Such a great presentation...just simple truth.

[progyandas]

You guys didn’t mention India as one the countries where massive disproportionality in household incomes have contributed to unequal climate emissions.

[timothythompson]

Accumulation of nefarious economic environment influence. Successful influence yes, sustainable unfortunately yes. Mitigable with good planning perhaps.

[eugaleksandr]

For the first time in history, all of humanity is facing a common external enemy. This enemy is the climate. In the face of planetary danger, it is necessary to unite all people for the future of humanity. Because we are people, and we want to live.
I invite all caring people to a unique event on May 7. International online forum "Global Crisis. We are People. We Want to Live" is a large-scale and unprecedented event, organized thanks to the independent unification of millions of people from 180 countries on the Creative Society platform.

[emiliaerle]

"out of a box ideas" - i have one, it's called socialism

[nxgrs]

The Earth is cooler w the atmos/GHGs/albedo not warmer.
To perform as advertised the GHGs require "extra" energy upwelling from the surface radiating as a black body.
The kinetic heat transfer processes of the contiguous atmos molecules render that scenario impossible.
No greenhouse effect, no GHG heating, no man/CO2 driven climate change or Gorebal warming.