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August 18, 2004

The Grauniad and Economics

From a leader in the Guardian:

Nor does it mean that the climate change issue can be evaded: in the last five years, storm and flood losses in the UK have totalled £6bn, twice the amount of the previous five years.

Ummm, what elese has happened in the UK over the past decade? Property prices have doubled, and more. What gets damaged in a flood? Property. Could it be that the damage to property by floods has risen because the property damaged by floods is worth more?
Nah, must be Global Warming, right?

August 18, 2004 in Economics | Permalink

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