Climate, Reform, Recovery

Paul Krugman argues in support of President Obama's case that relief, reform, and recovery can work together. In the case of climate change reform, Krugman argues, proper investment and reform now might actually help the economy to recover. Such investment would not simply be throwing money at a good cause, but would stimulate the economy and create conditions for growth. Krugman writes that "it’s important to understand that just as denials that climate change is happening are junk science, predictions of economic disaster if we try to do anything about climate change are junk economics."

Krugman does not deny that there would be costs, but claims that "the best available estimates suggest that the costs of an emissions-limitation program would be modest, as long as it’s implemented gradually. And committing ourselves now might actually help the economy recover from its current slump. . . . This short-run economic boost isn’t the main reason to move on climate-change policy. The important thing is that the planet is in danger, and the longer we wait the worse it gets. But it is an extra reason to move quickly."