Free market solution to climate change will be rubbished

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The other story of interest we noted was in the Australian Financial Review under the headline “Market key to climate change.”

Interesting, we thought, which ‘crazy’ capitalist pig has suggested such a thing.

Now, as we may have mentioned previously, science wasn’t one of your correspondent’s strong points at school, so our ability to say that climate change is fact or fiction is somewhat limited.

Unfortunately, the wise guy spouting the idea of the market being involved in climate change is an economist and professor at the Australian National University in Canberra, Ross Garnaut.

Actually, that isn’t the unfortunate bit, the unfortunate part of it is because he is heading an enquiry formed by Kevin from Brisbane, Steve from Melbourne, Morris from Sydney, Mike from Adelaide, Peter also from Brisbane, and Alan from Perth.

Chances are that John from Canberra will be compelled to rubbish anything that Professor Garnaut says, even if it is a free market based solution to what is yet an unproven problem.

Of course, if climate change is a hoax then we have nothing to worry about.

Kris Sayce
The Daily Reckoning Australia

Kris Sayce
Kris Sayce, dubbed the ‘Jeremy Clarkson of Australian finance’, began as a London finance broker specialising in small-cap stock analysis on London’s Alternative Investment Market (AIM). Kris then spent several years at one of Australia's leading wealth management firms. A fully accredited advisor in shares, options, warrants and foreign-exchange investments, Kris was instrumental in helping to establish the Australian version of the Daily Reckoning e-newsletter in 2005. He is currently the Publisher, Investment Director and Editor in Chief of Australia's most outspoken financial news service — Money Morning.
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