A somewhat frequent criticism of common economic theories and frameworks is that they are isolated from real world concerns such as energy and resource constraints: that the concept of limited resources, and ideas like the second law of thermodynamics, simply don’t seem to affect the economics at all. You come across this criticism primarily at […] Read more
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Which is harder to understand, physics or earth system science? Which is more important to get right? Which do film-makers try hardest to get right? Oliver Morton, on his Heliophage blog, says a lot of people, both film makers and film discussers, think getting physics right, or at least seeming to or trying to, is in […] Read more
Last autumn I was at an actuarial event, listening to a presentation on the risks involved in a major civil engineering project and how to price possible insurance covers. It must have been a GI (general insurance), event, obviously. That’s exactly the sort of thing GI actuaries do. The next presentation discussed how to model […] Read more
If we are to deal with climate change, the price of carbon-intensive energy is going to have to rise, says Tim Harford. It makes sense. We have to reduce our energy use, and pricing is a good mechanism to help that along. Along the same lines, fuel duty is a Good Thing.
I’m a complete glutton for soft fruit, and love it when the shops are full of local (or at least british) berries. But there are some times of the year when there just isn’t much local produce around, and sometimes I really like the idea of some fresh green beans, say, even when they aren’t […] Read more