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> Quite possibly the Antarctic ice shelves will be destablized decades ahead of schedule, leading to gradual but inexorable sea levels rising around the world.
by voldacar 5y ago
> Quite possibly the Antarctic ice shelves will be destablized decades ahead of schedule, leading to gradual but inexorable sea levels rising around the world. This may paradoxically trigger an economic boom in construction
this is known as the broken window fallacy
- ceejayoz 5y agoNo, the fallacy is "the economic boom is good, so climate change is OK". Noting the existence of the boom isn't the fallacy. Advocating for it is.
- agumonkey 5y agoI think this is the psychology behind a lot of investors. Breaking even after an unnecessary loss is seen as good.
- kybernetikos 5y agoI don't think it is at all. It falls under the 'that which is seen' in Bastiat's original parable. > I grant it; I have not a word to say against it; you reason justly. The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child. All this is that which is seen. What Stross does not say is that because rising sea levels are good for the construction industry they are therefore good in general. That would be an example of the broken window fallacy. In most cases broken windows truly are good for glaziers, but that doesn't mean that we should break windows.
- voldacar 5y agoOk granted, yes. When I read it I thought he meant that an economic boom will result from all the new construction, but I hope you are right that he merely meant that a lot of construction will occur, to the benefit of the construction industry.
- walrus01 5y agocomparatively "rich" countries might have a boom in seawall construction and coastal related construction, but I'm much less optimistic about places like Bangladesh.
- kwhitefoot 5y agoNo it isn't. The only thing they have in common is something being a problem.