Are economists globally understating or overstating the cost of climate change?

In a blog written after the devastating bushfires that swept across his home state of New South Wales, Australian economist Steve Keen states, "I have to admit that I am personally not coping well with climate change".

Some economists argue that the world can
financially cope with 4°C of warming.

Professor Keen says he's feeling the "same generalised anxiety about the future felt by Greta Thunberg and the young people she's inspired to strike for the climate", before criticising the work of William Nordhaus and other neoclassical economists.

William Nordhaus is a renowned American economist whose work modelling the economic impact of climate change earned him the 2018 Nobel Memorial Prize in Economic Sciences.

He is not a climate change denialist. His view is that greenhouse gas emissions from human activities will have a negative impact and he's urged governments globally to implement a carbon tax.

Read the ABC News story why Nassim Khadem - “Are economists globally understating or overstating the cost of climate change?”