Bending the Third Rail
Because We Should, We Can, We Do
Tuesday, December 19, 2006
The Greatest Failure
The World Bank's former chief economist, Nicholas Stern, recently conducted a sweeping analysis of the economic risks of global climate change. His conclusion: Climate change is "the greatest market failure the world has seen" and, if unchecked, it could cause "economic upheaval on the scale of the 1930s Depression" at a greater cost than both world wars combined. British Prime Minister Tony Blair declared Stern's report the most important document ever put before his government.

And here I thought no one was paying attention except Al Gore. Kind of telling that it only seems to push people to action when it threatens their wallets. This is one of the reasons I see a depression coming. That's depression with a D.