Global Economic Prospects 2014

Five years after the financial crisis, the world economy is showing signs of bouncing back. Read more ...

Development Prospects

Providing information, analysis, and advice on global trends in the world economy.  Find out more ...

Global Economic Monitor

Now free. Daily and monthly updates on global economic developments and relevant topical issues. Find out more ...

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Submitted by Greg on
"The underlying argument is that immediate action is akin to taking an insurance policy—you can’t wait until you have hard evidence in hand, because by that time, you can no longer protect yourself against a catastrophe." I think is not an appriopriate analogy - insurance policy is about pooling the risks of many individuals - risks leading to potentially very high costs per individual and in result limiting the costs per individual. It is rather like when you double thickness of the walls of a new house when comparing with the design - just in case there is an earthquake. It is therefore a serious strategic policy choice - do we spend limited resources on preventing potential climate catastrophy or use these resources for something else, eg social assistance or education?