“The main difficulty of the climate problem is that it is a global public problem and we lack an international government to regulate it”
Assistant Professors of Economics Fuhai Hong and Xiaojian Zhao published a paper in the American Journal of Agricultural Economics.
It appears that news media and some pro-environmental organizations have the tendency to accentuate or even exaggerate the damage caused by climate change. This article provides a rationale for this tendency by using a modified International Environmental Agreement (IEA) model with asymmetric information. We find that the information manipulation has an instrumental value, as it ex post induces more countries to participate in an IEA, which will eventually enhance global welfare.
Of course this paper didn’t go unnoticed and many where quick to criticize.
Climate Depot reports:
The authors Fuhai Hong and Xiaojian Zhao sent out a note to members of the media which read in part: “Unfortunately, our points in the paper have been mis-interpreted and exaggerated by a few media. In the link below, please see our reply to the blog of Jayson Lusk. http://jaysonlusk.com/blog/2014/3/6/information-manipulation-revisited – Hopefully, this link helps clarify our point. We never advocate lying on climate change.“
So in an effort to clear up their position, Fuhai Hong and Xiaojian Zhao responded to one blogger critique with the following.
Then we do have a “normative” analysis on the media bias. The main difficulty of the climate problem is that it is a global public problem and we lack an international government to regulate it; the strong free riding incentives lead to a serious under-participation in an IEA. We show that the media bias may have an ex post instrumental value as the over-pessimism from media bias may alleviate the under-participation problem to some extent.
Global Warming hysteria has one purpose. That is simply to get the masses to clamor for a global authority capable of crushing those who disagree with any plan to “save the world.” It’s a power grab and a move toward one world government. It represents the end of Individual Liberty should the masses be duped.