More on global warming

I noted a couple of days ago that the economic argument on Kyoto has largely been won. The BCA shift to a neutral position reflects the fact that the economic costs of Kyoto will be small. Warwick McKibbin <a href="http://www.msgpl.com.au/msgpl/download/ep10.pdf”>continues to argue (PDF file) that his alternative provides a better way of dealing with uncertainty about implementation costs, and he makes some good points. In my view, Warwick’s arguments are more applicable to the design of a substantial post-Kyoto initiative than to the first steps involved in Kyoto itself.

It might be useful to point to some developments in the scientific debate, with the warning that, like most bloggers, I’m not an expert on most of the relevant issues.

The most impressive evidence against the global warming hypothesis (GWH) has been the satellite data, which originally showed a strong cooling trend, directly contrary to the evidence of surface-level warming. The inconsistency was partially resolved when Matthias Schabel and Frank Wentz pointed out that the measurements, taken by a team led by John Christy at the University of Alabama, had failed to account properly for the gradual decay of satellite orbits. When this adjustment was made, the satellite data showed a weak upward trend. There’s been a bit of back and forth adjustment since then, but now Schabel and Wentz have struck again with a statistical analysis (PDF file that brings the satellite data much closer to the ground-level, though there is still a gap between the trends. This research is still unpublished, and no doubt there will be more debate, but it looks as though the contradiction between the data sets has been reduced to a minor anomaly, which will be resolved in due course. As Schabel and Wentz note in their abstract, this is bad news for critics of the standard modelling of water vapor feedbacks, who have relied heavily on the satellite data.

A second area of contention has concerned events at the poles. I tend not to put too much weight on this because I’ve formed the impression that polar climates are inherently highly variable, poorly understood and subject to severe measurement problems. This impression has been reinforced by what I’ve seen over the last year or so, which seems to have something for everybody. On the one hand, the spectacular break up of an ice-shelf recently gave rise to this report suggests that sea-level rise may proceed more rapidly than was previously thought. On the other hand, large parts of Antarctica appear to be cooling, not warming, which is not what the GW models predict.

Although it often seems as if these issues will never be resolved, at least one hypothesis should be subject to a conclusive test in the next few years. A number of sceptics have argued that the high global temperatures of recent years are due to the combination of variable solar activity and the El Nino cycle. No-one disputes the importance of El Nino, but the solar cycle idea is rejected by most climatologists.

Sceptic John Daly points out that the peak of solar activity has passed, which he says should imply declining global temperatures over the next few years. Obviously it would be good for all of us if he was right – on the standard version of the GWH, serious environmental damage seems inevitable even if we implement then extend Kyoto.

If, as I expect, we see a continuation of the warming trend, an acceptance by Daly and others that their hypothesis had been refuted might help to mobilise serious action.

Unfortunately, there is always the intermediate possibility of data that is not conclusive either way. Murphy’s Law suggests that this is what we’ll get.

Where is everybody ?

It’s been a very quiet week in my corner of Ozplogistan. Nobody at Catallaxy has posted anything since Heath Gibson presented a very effective critique of my friend Clive Hamilton’s proposals to regulate Internet p0rn.Ken Parish has just resurfaced after a week in the Red Centre trying to salvage the NTU operation there – sounds like a lost cause – with Wayne Wood holding the fort in the meantime. Kim Weatherall is also just back after a long hiatus. “Simon Crean” seems to have vanished entirely, perhaps in a tribute to the many pieces recently that have noted the invisibility of his real-life counterpart (my take: > This is an anti-Crean beatup. For Opposition leaders, invisibility is the rule rather than the exception). Simon’s blog hasn’t been updated since Xmas and he has disappeared from my comments threads.

On the plus side, Gareth Parker has responded to Jason Soon’s challenge by revealing his outward appearance. Scott Wickstein has gone one better by revealing his inner self. And in far-off Washington DC, Tim Dunlop upholds the virtual nature of Ozplogistan with the observation that this blog is among his top 5 referrers for February. I don’t think Xtreme tracking gives this information, which makes me think perhaps I should be investigating alternative hit counters. OTOH, the last thing I need is more stats to look at!

Others who’ve been busy and interesting this week include Gary Sauer-Thompson, Rob Corr, Carita Kazakoff and Gianna.

Update I should have known this would happen. I forgot to mention Gummo Trotsky and he immediately spat the dummy. What makes it worse is that I really enjoyed Gummo’s post earlier in the week on how to annoy a libertarian. Maybe this could be the beginning of a series for other political alignments.

While I’m at it, I’ll dig an even deeper hole for myself by mentioning some interesting posts from William Burrough’s Baboon and , so now the people I haven’t mentioned will be even more annoyed.

Metablogging

I had a piece on blogging in the Review section of yesterdays Fin Review (yes, I know its confusing). I tried to move a bit beyond the “Blogging 101” story that has been run a few thousand times by now, and look at the implications of the Lott cases (Trent and John) for the relationship between blogs and traditional media (which, I should have observed but didn’t, basically means newspapers and their online offshoots in this context). Online versions should be available for AFR subscribers and for those with access to Lexis or Factiva. Everyone else will either have to find a physical copy of the paper or wait until I post it. I’ve discovered that access for AFR subscribers only goes back eight days, so I now plan to post my own articles as soon after this period as possible, given my increasing overcommitment.

While I’m on this topic I just ran across a fascinating piece by Doc Searls and David Weinberger called “World of Ends What the Internet Is and How to Stop Mistaking It for Something Else. ” Most of it will be familiar to readers of Lessig or to anyone who’s hung round the Internet long enough, but it’s a witty and succinct restatement of the case.

The 'children overboard' refugees finally reach Australia

According to this ABC report about half the refugees involved in the bogus ‘children overboard’ incident have now been allowed into Australia. The number of people accepted would have been much larger if not for the fact that, after they arrived, the Taliban government in Afghanistan was overthrown. I don’t suppose this will change anybody’s mind, but maybe some people will feel a tiny twinge of conscience about the things they said and the lies they chose to believe.

The Zeitgeist and the banana republic

A couple of days ago, I noted the “developing attitude of the Republican establishment towards government debt, which is essentially that of banana republic populism. “. Now the same characterization has hit the pages of the NYT, in a piece by Floyd Norris on the decline of the dollar

To John Paul Rathbone, an economics commentator on breakingviews.com*, such borrowing is evidence that the United States is “taking on the financial characteristics of a banana republic.”

That’s a hostile view from Britain. But borrowers need to worry about what lenders think of them.

Norris is careful to put exactly the right amount of distance between himself and the “banana republic” characterization. But who would have imagined, in the late 20th era of US economic triumphalism, that such a thing would be said at all, let alone in the NYT Business section.

*The breakingviews.com site requires registration -free for a 30 day trial. The article to which Norris refers discusses the shift from direct FDI into the US to debt, then goes on to observe

In a typical emerging markets crisis, this deterioration would go two steps further. Investors would require ever shorter maturity debt, which then has to be rolled over. And increasingly they would demand that the debt be denominated in a foreign currency, which removes any chance that the country inflates away the problem by printing money. The US doesn’t have the latter problem. But the steepness of the yield curve does suggest some investors are turning to shorter-term bonds.

Furthermore, as State Street strategists point out, the US is not an obvious home for value-conscious bond investors anyway. For one, the Federal Reserve has a high tolerance for inflation, at least compared to the European Central Bank. That suited the US when equity capital flows ruled the currency markets. But it doesn’t in these risk averse, bond-driven days. From that point of view then, it doesn’t matter for the euro that the European economy is struggling. Indeed, quite the contrary is true. The euro will probably continue to rally against the dollar, despite a worsening eurozone economy, simply because euroland bonds are a safer bet.

This is all spot on, though I don’t rule out the final stage of a resort to the printing press and a flight from dollar-denominated assets.

Whopper of the week

I’ve nominated Ari Fleischer for Slate’s Whopper of the Week feature. His latest big lie is even bigger than the one that won him last week’s award. In referring to Iraq’s Al-Samoud missiles, Fleischer says

Well, here’s the Catch-22 that Saddam Hussein has put himself in: he denied he had these weapons, and then he destroys things he says he never had. If he lies about never having them, how can you trust him when he says he has destroyed them? … It also contradicts the fact that he said he doesn’t have any weapons in violation of the United Nations resolutions.

Every part of this is untrue. Saddam openly admitted having the missiles and has consistently maintained that they don’t violate the resolutions and that, in destroyng them, he is simply deferring to the judgement of the UN inspectors that they do. This is all on the public record, as Hans Blix observed (quote from NYT)

In another sign of the poisoning of relations between the inspectors and the United States, Mr. Blix directly contradicted the White House spokesman, Ari Fleischer, who said on Monday that Mr. Hussein had earlier denied he had “these weapons,” meaning the missiles. Mr. Blix said the missiles “were declared” and that “they were not clandestine.”

He was referring to Iraq’s original arms declaration in December. “

And from Fleischer’s own mouth in response to Saddam’s interview with Dan Rather

Fleischer said Saddam’s comments about the Al Samouds represented “open defiance” of the United Nations. “He refuses even to acknowledge that the weapons are prohibited,” Fleischer said.

The fact that Fleischer is a blatant liar is not surprising and does not mean that Saddam is truthful. But how can anybody advocate following people like Fleischer (and Bush and Rumsfeld and Cheney) to war. And regrettably, the only credible person in the Administration, Colin Powell, now seems to have signed on to the Fleischer line that whatever is convenient to the demands of the day is true.

Free speech vs free markets

A US case in which a man was arrested for wearing a T-shirt bearing the slogan “Give Peace a Chance” has attracted a fair bit of attention. To be more precise, the man in question went to a T-shirt shop in a mall, had the shirt made to order and put it on. He was then approached by mall security guards who asked him to leave. On refusing, he was arrested for trespass. There’s a news story here. This kind of incident reinforces one of my main reasons for opposing privatisation of public spaces, including universities. In a piece entitledFree speech sits ill with a free market, I observed

Freedom of speech, in universities, public spaces and elsewhere, is ultimately incompatible with privatisation and unfettered freedom of action for corporations.

The piece was motivated by an article by CIS board member Steven Schwartz, attacking academic freedom.

Kevin Drum has more on this, noting that in California, shopping malls are required to allow reasonable exercise of free speech. I’m more and more inclined to the view that Australia needs an equivalent to the First Amendment.

No compromise

This NYT report on a compromise being floated by the British is consistent with the analysis I’ve been pushing for some time. The difficulty is of course that the US Administration will do its best to rule out any compromise in the form of a clearly stated final demand “Do this, or else”, no matter how stringent the conditions, for fear that Saddam will actually do it. By contrast, the French want a compromise of this form, but would prefer one with conditions that have a fair probability of being met (unrestricted interviews, production of documents etc).

But game-theoretic reasoning helps us here. If the French believe that the US will reject any compromise in the form of a clearly stated final demand, they have no reason to quibble about the precise wording of the demand. This in turn increases the likelihood that any compromise proposed by the British will be accepted, with the result that the US will be forced to veto (or kill with the threat of veto) a British proposal.

Two possible inferences. The first is that the British government is prepared to pull out of war if necessary. The alternative is that they think they can persuade the US to accept a “final demand” compromise. The second seems more likely as a statement about British beliefs, but Bush has disappointed them before, and is likely to do so again.

Update The Guardian also has this story, supporting the second interpretation

The British government, which expects to secure the backing of the US for the change, is to offer a reworked resolution that would give Iraq “a little more time” and set a deadline on which most of the UN security council could agree.

New on the website

I’ve added a bunch of book reviews. Feel free to review my reviews. If there’s any interest, I will post some extracts from the reviews over the next few days. Also, I’ve been updating the recent journal articles and working papers, reflecting a few acceptances and some long-awaited publications. Here’s a list of reviews I’ve added:

John Quiggin on progressive reform: review of Boris Frankel’s When the Boat Comes in, Pluto Press, 2002′, Arena 60(August–September), 47–49.

Myths of the Market; Review of: Thomas Frank, One Market Under God, Sydney, Vintage, 2001 & William Baumol, The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism, Princeton, Princeton University Press, 2002 ‘, The Drawing Board (Digest)

Economics of the Dark Side: Review of Jack Hirshleifer, The Dark Side of the Force: Economic Foundations of Conflict Theory, Cambridge University Press, Cambridge, 2001′, The Drawing Board (Digest)

A rough ride to freedom for information. Review of The Future of Ideas: The Fate of the Commons in a Connected World, by Lawrence Lessig, Random House (US), Australian Financial Review, 8 November

Review of Refashioning the Rag Trade: Internationalising Australia’s Textiles, Clothing and Footwear Industries by Michael Webber and Sally Weller, UNSW Press, 2001′, 21(1), 56–7.

Review of Debunking Economics: The Naked Emperor of he Social Sciences by Steve Keen, Pluto Press, 2001′, Economic Record 78(241)

Review of At the Crossroads – three essays by Jane Kelsey, New Zealand Economic Papers.