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Now, in spite of the fact that this causal link between GDP growth and CO2 emissions is quite obvious, mainstream economists and politicians never say a word about it. Why? It seems to me that a plausible explanation is that this causal link undermines what is perhaps the basic tenet of economics, the idea that economic growth is essential not only to maintain economic and political stability, but also to solve any social problem. For the economics profession, economic growth is what the Holy Grail was for the Knights of the Round Table. To assert the existence of a causal link between economic growth and climate change is like claiming that the Holy Grail contains poison.
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