I had an extraordinary Twitter Exchange with Richard Tol over the last few days. I’ve written this post to preserve that exchange in case, at a future date, Tol decides to delete his tweets. They provide a superb window into the thinking that lies behind mainstream economic modelling of climate change, and why this has led to humanity dangerously delaying taking action against climate change.

It is worse than you thought. Perhaps twice as bad. Perhaps worse than that.