When it comes to economics, diversity is key

A study published this week in Nature compared the U.S. economic downturn with a current ecological issue: a decline in biodiversity. In the study, economist Andrew Haldane of the Bank of England and zoologist Robert May of Oxford University basically described the financial system as having similar weaknesses as a monoculture. That is, if all banks are run equally, they are more susceptible to a uniform crisis; much in the way that a...

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Optimistic economists weigh in on climate change

A group called Economics for Equity and the Environment released a report today detailing their predicted costs for reducing greenhouse gas emissions.  According to this article in the Washington Post, the cost could be as low as between one and three percent of the country’s GDP each year to reduce the levels of carbon dioxide in the Earth’s atmosphere to 350 parts per million (ppm) from the current 387. The groups...

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