Daily Archives: July 11, 2018

Richard Epstein on Originalism and Judicial Restraint

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Islands Adapting to Change: Tuvalu

Science Matters

H/T Brett Keane for pointing to research by Paul Kench regarding viability of Pacific islands. Paul S. Kench, Murray R. Ford & Susan D. Owen published: 09 February 2018 Patterns of island change and persistence offer alternate adaptation pathways for atoll nations Excerpts in italics with my bolds.

Sea-level rise and climatic change threaten the existence of atoll nations. Inundation and erosion are expected to render islands uninhabitable over the next century, forcing human migration. Here we present analysis of shoreline change in all 101 islands in the Pacific atoll nation of Tuvalu. Using remotely sensed data, change is analysed over the past four decades, a period when local sea level has risen at twice the global average (~3.90 ± 0.4 mm.yr−1). Results highlight a net increase in land area in Tuvalu of 73.5 ha (2.9%), despite sea-level rise, and land area increase in eight of nine atolls. Island change has lacked…

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croaking cassandra

There was a new survey out last week from the European IGM panel of economics experts, about the recent proposal from the UK Labour Party to give the Bank of England an economywide productivity objective.  These were the results:

IGM productivity

Not a single economist in the panel seemed to think this was a good idea. Not one thought that central banks can make any material difference to productivity growth, except by promoting or maintaining macroeconomic stability.  Note that the question wasn’t just about monetary policy, and the Labour Party policy talks of the use of regulatory tools as well.

I share the view of the panellists, but it is interesting to see the answers coming through so strongly when the Bank of England itself (notably the chief economist Andy Haldane) has at times been quite vocal in arguing (drawing from this speech) that the costs of financial crises are large…

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