Over at Slate, Daniel Akst has a thought-provoking article asking "What is the best way to spend $1 to make the world a better place?" (Bang for Your Buck)
He starts off the story outlining a discussion he had with his wife about the economic merits of purchasing a defibrillator for her office (she is a dentist). He says the $1,000 would be better spent - and would have a higher probability of helping someone - elsewhere. Where? Well, he proposes Doctors Without Borders.
But, that is not the point of the article, the point is to figure out the biggest bang for the buck - and I got interested and sidetracked at the first bullet. The environment. Global warming, in particular. Akst immediately throws cold water on the idea of purchasing offsets to address global warming with a quick anecdote about Harvard prof Robert Stavins:
I once asked Robert N. Stavins, director of the environmental economics
program at Harvard, about purchasing carbon offsets to negate my output
of greenhouse gases, and he argued that problems like global warming
can only be resolved by concerted international action, so anything I
could do privately is an exercise in futility, if not self-delusion.
So, there you go. Global warming is so big that anything you do privately is an exercise in futility. Is that right? What was the context of that quote? I have not read enough stuff from Stavins to know but the idea that private actions to help slow global warming are an exercise in futility is rather bleak. What of all those cheap energy-efficiency ideas we always hear about? Are those only really valuable if everyone in the entire world goes along? Talk about a challenge.
And if only international action can resolve global warming, then what of the regional initiatives in the northeast and on the west coast? Are they only valuable as warm up for a future international agreement?
Maybe I'm stretching this too far. Maybe Stavins was talking specifically about offsets, maybe he was talking about the incredibly small marginal impact of one person reducing his or her emissions. Maybe he doesn't believe in the market for personal-scale offsets.
I don't really have a conclusion. Just a bunch of questions. As I was typing this, I started to think about Bjørn Lomborg and, sure enough, the article links to one of his organizations (Copenhagen Consensus). I can't seem to shake that guy when I start going through these economic trade off ideas.
[For the record, Akst says he does not agree and points to an article he wrote on purchasing offsets for car emissions (Got SUV Guilt?).]
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