Yosef explores Paul Klugman’s environmental economics essay in the NY Times. Klugman and Gore’s words, Yosef finds, may influence decision-makers to slow the gallop toward environmental ruin in the Middle East. Above image of Klugman

We greens of the Middle East have to take our manna from whence it comes – even if its from liberal economists: In a two-part series appearing on the editorial opinion pages of the April 13 and April 14, 2010 issues of the International Herald Tribune, Nobel Prize winning Princeton University economist Paul Krugman makes the case for potent economic measures aimed at limiting greenhouse gas emissions. 

In the April 14^th piece he writes: “Current predictions of global warming in the absence of action are just too close to the kinds of numbers associated with doomsday scenarios. It would be irresponsible – it’s tempting to say criminally irresponsible – not to step back from what could all too easily turn out to be the edge of a cliff.”

For those of us who have reached these conclusions without being Nobelists, Krugman’s words offer little insight. However, Krugman stands on the Olympian heights of liberal economics: He has served as a consultant to the Federal Reserve Bank of New York, the World Bank, the International Monetary Fund, the United Nations, as well as to a number of countries including Portugal and the Philippines. He has been a member of the US President Council of Economic Advisors.

Paul Krugman’s commentary is another clarion call (see my post on Gore’s Clarion Call) by mainstream figures for action aimed at limiting devastating greenhouse gas emissions. Coming from someone who champions the system responsible for global environmental degradation, Krugman’s reasoning that “risk of catastrophe makes the most powerful case for strong climate policy,” is meaningful and is unlikely to be ignored by policy-makers whom he counsels.